Hedge funds have boosted S&P Shorts the most since 2011

The recent stalling out in SPX doesn’t appear too serious and prices remain within striking distance of a possible breakout above 4200.  While a decline lower under SPX-4039 might suggest some minor pullback is getting underway, it’s still difficult to make a strong bearish technical case.  Trends from mid-March remain bullish while momentum is positively sloped while not overbought.

Technology seemed to take the early lead in showing weakness in U...

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