The Path With Least Resistance Remains Higher As Long As S&P Holds Above 3100

S&P turned indecisive as traders wondered whether more gain is warranted given the massive advance over the past few weeks. Although the near-term technical bias is currently tilted toward weaknesses than strengths, the path with least resistance remains to the upside as long as S&P holds above 3100. As for strategy, a pullback will present a buying opportunity, while selling into strength may not be the best strategy in a market considered likely to bounce back

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