The US stock market is on a tear, and professional investors are looking to add to their long positions on any weakness. Here’s why the latest correction will be welcomed by the ‘smart money’.
A long-overdue correction may finally be underway in the the S&P 500. Several technical gauges suggest that the current momentum in equities is unlikely to be sustained, and a widely-used indicator based on the Fibonacci sequence projects that the current upswing has peaked at 2670, heralding a pullback.
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