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SPX remains between 7200 and 7500, Craig Shapiro notes

SPX remains between 7200 and 7500, Craig Shapiro notes
SPX holds in wait-and-see range

Craig Shapiro comments that with the S&P 500 index remaining in the 7200 to 7500 range, the market is still in a wait-and-see phase.

He suggests that it may take another week to gain more clarity on market direction.

Shapiro recently highlighted market risk with $45 billion in potential CTA selling on a major downturn. He also examined record speculative short positions in USD/JPY ahead of a Bank of Japan decision. Both signals have contributed to a cautious tone in his recent commentary.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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