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Bears Are Struggling to Send the S&P and NASDAQ Lower

The S&P and NASDAQ have been neutral and slightly bearish since April 19. There has been a lot of sideways price action, while SPY and QQQ have made some slow progress to the upside. I think bears are struggling to send the price lower, and the bullish sentiment has returned to the markets in May. I think there will be a lot of hype around NVDA in the next few weeks headed into NVDA’s May 22 earnings announcement. 5 out of 6 Mag 7 stocks have rallied after earnings, and I think NVDA is likely to rally as well.

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