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A Stock Market Pullback/Pause Is Likely Now After CPI Report Shows Inflation Won't Drop

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We have seen the S&P 500, and just about everything else, go up since the end of April and it’s been fun to see. But the US stock market is now extremely overbought and is very likely to pause or pullback a bit here for the next few weeks.

The RSI overbought/oversold indicator for the S&P 500 got over 70 just last week.

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