<p>“…<em>short interest hit a multi-year high in December, with evidence of covering activity in recent weeks that I anticipated would be supportive of the market. I would imagine short covering is still supporting the market, as the SPX easily sliced through a level of potential resistance at 4,940 last week....
<p style="margin-left: 40px;">“<em>The good news: After the S&P 500 Index (SPX — 4,783.83) crossed below its 20-day moving average in the first week of 2024, it took only two trading days for the index to rally back above it…The not so good news: the SPX’s inability to slice through...
“…. sellers came in on Thursday, with the SPX only four points below its Jan. 23, 2022 record closing high of 4,797…if the current...
