S&P 500 is 10% above its 200-dma and recent "local tops" are 13% to 15%... too early to call a top

Video: We have been in Seoul this week meeting with investors. To us, it seems like many have expressed concerns about a possible market top given the weakness in AI stocks this week. But low conviction is rarely a sign of a top and we believe equities have more room to gain before a local top.

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The S&P 500 is down each of the last 3 trading days, down -2% from...

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