As the SPX rallies to a fresh record today on better macro globally and a continuation of a cyclically rally that is encouraging higher rates, technicals are saying be cautious with the extreme level of optimism.
A look back on the SPX over 10 years illustrates we have not been this high on a 9d RSI (85.7) for the index since March 2010 when the SPX hit 86.08 on March 17th .
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