Systematic buying in equities ran rampant yesterday, giving bears a run for their money and leaving some positive data points to be pondered. The SML, MID & RTY all went above their 50d moving averages. That said, The RTY still wasn’t able to sneak above 1930 and the Nasdaq 100 stayed well below 13000, the levels we would need to get excited. Meanwhile, the S&P remains in a tight sideways range between 4100 and 4200 (zzzz) with today’s move lower bringing it closer to the former.
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