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By Lawrence G. McMillan

New all-time highs were registered this week by the S&P 500 ($SPX), Dow ($DJX), NASDAQ Composite, and NASDAQ-100 ($NDX; QQQ). However, it is not necessarily a good thing when the large caps are leading the rally, but that's what's happening now.

There is support for $SPX above the recent breakout level (which was briefly re-tested) at 2950-2960. Below there, there is a better support level which has been tested a few times, at 2890-2910. A violation of that lower level would be bearish. Otherwise, the $SPX chart remains in an uptrend.

Equity-only put-call ratios remain on buy signals. Both ratios made new relative lows yesterday, so they...

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New all-time highs were registered this week by the S&P 500 ($SPX), Dow ($DJX), NASDAQ Composite, and NASDAQ-...

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