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S&P 500 (SPX)

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Market indexes typically move in a roller-coaster fashion. The small and mid caps usually lead the way.  They've already topped in mid-June and began to turn negative since then (please view the Russell 2000, DJTI, SP400, etc).  Larger cap indexes like the SP500 and NDQ typically overshoot on their way up and then begin to turn negative so as long as the small and mid cap indexes remain negative.  You can view this for yourself, just compare the SP500 chart to the DJTA in Feb 2020 (pre-pandemic crash) and now.
That's an almost unbelievable oversimplification
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