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First, let’s do our regular look at what’s transpired in the S&P 500 for the last week:
For much of last week, the S&P 500 traded in a tight range between 4440 and 4480. It broke this range to the downside on Friday, and this negative momentum continued as the S&P 500 was down by more than 3% at its lows of the day before an end-of-day rally, cut these losses nearly in half.
