S&P 500 Rally Flashes Signs of Fatigue Near Record: Markets Wrap.

BOARD of Governors of the Federal Reserve System (U.S.); STANDARD & Poor's 500 Index

The S&P 500 struggled to maintain its momentum after nearing a record high, as speculation about a potential rate cut by the Federal Reserve in 2024 caused uncertainty. While some traders believe in the adage "never short a dull market," concerns have arisen about overbought levels and overly dovish Fed wagers. The S&P 500 has historically performed well after climbing out of a slump, with returns exceeding its long-term average. However, there are warnings about short-term overbought conditions and the need for new catalysts to push the index to new highs in 2024. [Extracted from the article]

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