Argus

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Apr 27, 2026

Intermediate Term

Long Term

Summary

The stock market slipped back into an "AI only" trade last week, with the major stock indices again propelled higher by Information Technology (XLK +3.8%). The S&P 500 (SPX) featured some volatility, but was able to add 0.6% and finish at an all-time high. That marked the fourth consecutive weekly gain for the index. Still, volume on the SPDR S&P 500 ETF (SPY) was light and at its lowest weekly total since Christmas, an obviously quiet trading week. The Nasdaq was up 1.5% and the Nasdaq 100 (QQQ) added 2.4%. In just four weeks, the SPX has jumped 12.5%, the Nasdaq 18.6%, and the QQQ 18%. That is the strongest four we

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