Summary
It’s as if some stock-market deities snapped their fingers a few days ago, and now everything is good again. At times, markets love to play Jekyll and Hyde, scaring investors after everyone is all in and then pulling an about-face and charging back higher. The S&P 500 (SPX), the Nasdaq, and the Nasdaq 100 (QQQ) all popped back above their 50-day averages on Tuesday, with the SPX rising 1.5%, the Nasdaq leaping 1.7%, and the QQQs ripping higher by 2.2%. In three days, the SPX is up 2.8%, the Nasdaq has added 3.6%, and the QQQs have jumped 3.8%.
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