As we’ve mentioned many times over the last few months, the S&P 500 needs to move back above its prior bull market high (and all-time high) from May 2015 to resume its long-term uptrend.  Until that happens, we don’t recommend getting aggressively long stocks again.  While the S&P has recovered nicely from its lows in early February, it still needs to gain roughly 2.5% from current levels to break out above its prior highs.  While the index itself is still below its May 2015 bull market high, one market internal that we track closely has indeed already taken out that high…

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