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After more than three months without a 1% move in either direction, the S&P 500 has now had back to back daily 1% moves.  First Monday with a decline of over 1% and then yesterday with a gain of over 1%.  In the S&P’s history, there have only been four prior periods where the index went more than three months without a 1% move and then followed that streak with back to back moves of 1%.  Yesterday’s 1% rally, however, was the first time that one of the two days included a 1% move to the upside.

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