Here is Joe Feshbach's latest trading call: "The market has rallied according to plan accompanied by improving breadth numbers. The put/call ratio has moved back to neutral (chart). I would’ve preferred more skepticism on the rally. So while the market should eventually get to the upper end of its trading range it could get a bit bumpy soon. The chart I alluded to last week remains bullish and I believe it is signaling a very good probability the two highs in the S&P 500 at 4100 will eventually be surpassed."
We've been keeping track of the ratio of the equal-weighted S&P 500 (EW) to the market-cap-weighted version (MW) of the index (chart). Here are some interesting stats:
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