Strong rallies fizzle out, a bad omen for investors.
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The stock market has frustrated both bulls and bears by failing to follow through on short-term price action. There have been plenty of catalysts, including the monthly inflation report and Federal Reserve policy decision being released this week.
On the upside, the bulls have managed a couple of strong rallies, only to see them fail almost exactly at the 4100-point level on the S&P 500 SPX. So, that is resistance.
On…
