Last week started with the anticipation of how the market would respond to its prior week’s pullback from the enthusiastic post-election rally. Even without a boost from NVDA’s earnings report, the stock market resumed its bull trend in some encouraging ways. First, as you can see in the daily chart below, the Russell 2000 (IWM) small caps had a strong week, and it bounced off of its recent breakout highs. This pattern of retracing to
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