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Over the last week, the S&P 500 is up by 0.8% with the Russell 2000 up 1.3%. It’s certainly been more of a rotation-type environment rather than a trending market where all boats are lifted higher.
Ultimately, these types of advances are more sustainable and can last longer. The S&P 500 is up by 20% this year, yet it’s never gotten too extremely overbought other than in mid-February, where it was punished with a steep decline.
