Debt ceiling tentative agreement optimism continued into Memorial Day, and S&P 500 opened the Globex session with a bullish gap, which the sellers (unsuccessfully) attempted to close, and the true battle of today is going to be waged in the 4,235 – 4,245 area. In short, if there is going to be any sell the announcement news, it has to happen early in the regular session, otherwise the very narrow breadth and extremely selective ES upswing feeding off AI, Big Tech, communications and consumer discretionaries, is to continue. (…) If anything, the market has become ever more concentrated, with Nv…

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