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The market has been a rollercoaster lately, with the resilience of defensive sectors and the modest bounce in the technology sector painting an intriguing picture. This movement hints at a temporary adjustment rather than a full-blown recovery. The VIX, still holding strong above 22, reinforces this idea and suggests we might be on the verge of another significant move upward.
Amidst this market dance, key economic indicators like weekly unemployment claims and bond auctions are flashing warning signs, pointing to underlying weaknesses in the economy.
Stocks haven’t quite made up their five-day losses yet, but Friday will tell the tale. At the moment, it looks like a rally could be in the making – maybe, maybe not
But here’s where I think smart traders should be looking…
