SPX: Yes, I have no shame and am still posting despite my recent "wrong way Corrigan" calls. But, I did say three weeks ago that I expected a rebound from the earlier March low back up into the Pause Zone that could reach the 1390 area.
We are still in the Pause Zone, and the recent surges since the March 17 low look similar to the move out of the January 21 low (which was the last time we got a 75bp rate cut). There were two weeks of what looked like a strong market that then faltered.
Until there is a move up out of the Pause Zone with prices holding above 1390, I'll remain suspicious of the current rally.
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