Is This a Stock Market Rally, or Merely a Bounce?

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The stock market has put together an impressive rally off last Friday’s lows. From there, the S&P is up 3.8% even after today’s nearly 1% pullback. The Russell 2000 is up 3.6% although it’s off 3% from yesterday’s highs.

So, it’s certainly clear that the market has had a nice bounce and is now giving back some of these gains. Like what we experienced for most of November, most weakness is concentrated in small-caps and growth stocks.

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