S&P 500 Upside Limited
The target level for the S&P 500 index is 1340. Last week, the index reached 1333 - within 7 points of the target level.
It has been a great rally since the October low. Quite frankly, the rally is looking nearly exhausted in the short term, and a pullback under 1300 is the next likely course for the market to take. Trimming risk at this point makes abundant sense.
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