Last week’s stock market action was quite impressive. Blue chips, as measured by the S&P 500, gained 6.8 percent for the week, while the more economically sensitive small caps were up by a greater amount—8.8 percent on the unweighted average of all stocks traded on the New York Stock Exchange. The weekly breadth of the market was one of the best on record and volume was high for this time of the year, suggesting there’s some conviction behind the buying. Read more...
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