The S&P remains extended from the 200-day moving average and there are signs the rally has weakened a bit (RSI/MACD).
Even though the signals are still green, there’s more downside risk than upside potential at this point. That doesn’t mean the S&P couldn’t go higher before another sell-off, only that now is a good time to take profits!
More commentary after the jump... Stock Market Outlook - Week of November 29 2020
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