Weekly MOTR Report (WMR): “Lack of New Highs Plants the Seeds for New Highs.”

This Week's Highlights

  • With the S&P having now gone 22 months without hitting a 2 year high, we suspect we will see one in early 2024. We are just hesitant to add significant new exposure now that we are back to overbought at resistance.
  • At this stage of the rally, we are seeing some necessary inflection in short-term charts and related models, enough to support higher prices from here.
  • That said, we have yet to. . .

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