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Markets continue to drift sideways as this is the 3rd week in a row where the SPX has not come anywhere close to the upper or lower edge of the expected move. This is highly unusual. Year-to-date, Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla are responsible for nearly 90% of the S&P 500’s gains. All are reporting earnings in the coming weeks starting with disappointing earnings from Tesla after the close today. Will earnings be the driver for the next market move?
