The market-wide S&P 500 was unable to overcome the first hurdle at 4180 points at the start of the week yesterday. The daily high was 4177 points and shows that the 4180 points still have to be overcome in order to trigger further upward momentum. Chart wise The S&P 500 has to regain the 4220 points in order to develop new momentum for the final quarter. If the AAII Sentiment Survey is to be believed, the skeptical starting point could be used as a contrarian indicator and seen as an indication of an impending upward rally.
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