The stock market had another turnaround Tuesday late in the afternoon. The day began with another sharp rally, but the S&P 500 could not confirm the new Nasdaq 100 highs, failing four times today just short of 1220.
With the Fed meeting and the possibility that another round of quantitative easing is on its way, Deron Wagner is cautious about taking on new positions and wouldn't be surprised if the market were to take another leg higher.
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