It is hard to find anything wrong yesterday about a rally that takes the S&P 500 (SPX) and NYSE advance-decline line to a new record high, while the Russell 2000 (RTY) broke out of a base to a new 52-week high. The SPX is now up just over 1% from our call for limited and temporary correction, so the question becomes whether we ignore our tactical indicators and expect a chase higher into year-end? The short answer is no.
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