Turning Short-term defensive as a minor SPX pullback gets underway

Near-term US Equity trends look to be turning lower as $SPX's close at three-day lows changes the tactical view to cautious while we await further confirmation, even as the longer-term uptrend remains intact. It's right to turn defensive in the short run for those with a tactical bent, though the setup is genuinely conflicted. Both the 10-year yield and WTI Crude appear to be in the final stages of their bounces and...

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