Retail investors should note the ending para of the report: S&P 500 posted 55 new 52-week highs and no new lows; the Nasdaq Composite recorded 131 new highs and 17 new lows. Retail investors should note nothing goes up in a straight line forever. Beware that since the declaration of the Covid-19 pandemic in early March 2020, the S&P has risen around 75%, and the Nasdaq almost 100%. Stock prices have run wayahead of fundamentals and economic growth. Going forward, the probability of upside is likely to be limited.
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