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*** Equity rally gains momentum (SPX.......>

EQUITIES
EQUITIES: *** Equity rally gains momentum (SPX +23.5, 2936.0; revisiting early
October'19 highs), multiple drivers, better than expected new home sales helped
get bid rolling, technical buying, early month end allocation buying. 
- Custy query -- Do equities "respond to economic growth? (which continues to be
downgraded) or do they just latch onto monetary accommodation as an invitation
to again chase riskier returns"? In this case it appears latter, rate hike
probability for 2019 has been priced out of 2019, rate cut chances on rise
again.
- One desk notes: TRADPAUS...Bloomberg Percentage of NYSE Stocks Closing Above
200 Day Moving Average, currently at 51

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