Due to travel plans, there will be no Daily Technical Strategy video today. Thank you for your understanding.

$QQQ breakout along with Technology this week has cemented Technology as an area for further outperformance into early to mid-April.  Growth should trump Value, and Large-Cap is preferred over Small-cap.

DeMark counter-trend signals are premature on QQQ as well as the relative ratio of $QQQ/$SPY, indicating that despite Technology having gotten overbought, additional gains are possible.

$QQQ is now firmly over its 315 level, and likely drives prices up to $326.  Thus, it’s a must to stick with Technology.

SPX has neared the area at 4075-9 as shown below.  Above that lies 4105-7.   However, given that $QQQ still looks quite bullish, there might not be material resistance until mid-April.

Exceeding 4107 would provide a much better landscape for SPX; However, barring any material change in trend, it’s difficult to consider fading this SPX move heading into a very seasonally positive month at a time when sentiment remains bearish.

Healthcare has been slowly but surely coming to life in the short-run.  However, Biotechnology will need to join Medical Devices and Pharmaceutical stocks in bouncing to help this sector break ou...

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