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Still bullish but cautious

Still bullish but cautious

Wednesday was a rest day for the S&P 500 and that is an appropriate action after the previous days price action. Positive economic news help support the S&P . The critical piece is going to be Thursdays follow through. Ideally this would be up close above 4720. Also, we need to be cautious here because we would not want to see this market trading below Wednesday's low.

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