“It's difficult to differentiate between unlucky or unskilled when the outcome is the same.”
— Gen Mike Hayden, Former Head of CIA & NSA
The same certainly holds true in markets when incorrectly attributing outcomes to skill rather than luck.
The S&P 500 (SPX) has been hovering within a tight range of 4270-4300 over the past couple of days. Can it go higher from here?
First, let's review how we got here...
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