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“I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” – Warren Buffett

Below is a snippet of commentary from today’s Morning Lineup.  Start a two-week trial to Bespoke Premium to view the full report.  

The S&P 500 rose more than 2% yesterday to close at a new all-time high, and as shown below, yesterday’s move pushed most areas of the US equity market up into extreme overbought territory.

Similar to the Nasdaq 100, yesterday was also the first time the S&P 500 had a one-day gain of at least 2% to close at a new all-time high since March 21st, 2000!

The green dots below show the 21 prior times the S&P had a 2%+ gain and closed at an all-time high since 1952.  Yep, there have only been 21 prior occurrences over the last 70+ years.

For a closer look at how the market performed following prior moves like we saw yesterday, read today’s full Morning Lineup with a two-week Bespoke Premium trial.