Mid-week market update: This relief rally from last week’s lows has been stunning. The stock market shrugged off a hot employment report, a Middle East war that could set off an oil price surge, and a hot PPI print this morning to rise 3.5% off last week’s lows. But it may be time for a pause in the advance. The 5-day RSI is now in overbought territory, and the VIX Index has recycled from above its Bollinger Band to the 20 dma, or the middle of the band.
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