It’s thirsty Thursday, and that seems appropriate as markets have been lapping up assets in January. Whether because they have been underweight after a rough 2022, or in anticipation of a soft landing, the support has been appreciated. Obviously there remains a lot of moving parts to this year’s outcome, but it seems easier to look forward since the Fed is closer to the end than the beginning. Equities built upon yesterday’s rally and finished at their highs once again. But today, the Russell 2k finally closed above the 1900 level, a resistance level our technical team is watching.
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