This Market Is Not as Lackluster as It Appears

The market started the week on a positive note when Moderna announced it had developed a highly effective Covid vaccine but that was the high point for most of the major indices. Overall it looked like rather lackluster, but if you dug a bit deeper there was some extremely strong speculative action under the surface. There was some very energetic chasing that belied the dull action in the major indices.

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