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I think with a lot of downside recently the market needed some good news and this was it. The S&P held support the last few days and if today stays strong there will at least be a little breathing room. I still have money to invest so I'm not sure I hope for a full resumption of prices going up yet but I was very happy the S&P didn't break support. Unfortunately the Nasdaq, the Russell 2000, the Nikkei, the DAX and others did so I think we still have to be careful. Interestingly I read something recently, I think in a discussion here although I can't remember which one, where JP Morgan suggested they're allocating more to US large caps, which aligns well with the S&P staying in an up trend while many others have been broken.
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