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S&P 500: Market Rotation Sends Mixed Technical Signals Across Indexes

Pelican Press

By Pelican Press,
in World News

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There was an apparent rotation in the market yesterday, with the falling by approximately 90 basis points, while the equal-weight (RSP) rose by 1.2%. This divergence has put the RSP on the verge of becoming overbought itself, with an RSI at 69.1 and trading above its upper Bollinger Band. The move higher in the RSP caused the -to-RSP ratio to fall yesterday. As previously noted…

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