The S&P 500 gained 0.4% last week. After a few very volatile weeks with sharp ups and downs, the market calmed down. Now it is possible to neutralize the emotions and return to a cold technical and fundamental analysis of the market.
From a negative point of view, stock prices are high, interest rate is rising and bond yields are at the height of several years.
From a positive point of view, one can say that the market is up trending and the tax reform should justify current prices.
The decision to continue to a new high or decline, will come during the next few weeks. Let’s take a technical view of the market.
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