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It’s a Tom Jones rally but it may be overbought, say analysts

·4 min read
It’s a Tom Jones rally but it may be overbought, say analysts

The S&P 500’s initial surge on Thursday to fresh three-month highs fizzled as the session wore on. The good news for bulls is that this is a Tom Jones rally, as in his famous song: “It’s not unusual.” Specifically, there is nothing superlative about the market’s, notably the Nasdaq’s, resurgence off its mid-June trough, suggests Bespoke Investment Group.