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New York trader: Beware S&P 500’s right shoulder

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

The bulls had a good week on oil and equity. Now as we gear up for a new week the question is: Has the crowded trade of long U.S dollar/short oil been unwound enough last week to get back to less volatile moves in both the S&P 500 and oil?