Fading the rally has paid off as of late, and today did not prove that theory wrong. Thursday’s trading marked the fifth session in a row of losses for the S&P and the fourth consecutive where the market’s early gains were reversed by the session’s end to losses. Ultimately, a mixed result for the main US equity indices as the Dow led with modest gains vs the Nasdaq underperforming in the red while the S&P also fell lower. A confluence of— yields continuing to persist higher, Fed-speak shift…
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