S&P into resistance - Growth undercuts key short-term level to Value last week

As you know, equity markets were deeply oversold heading into March’s quadruple witching with most internal technical indicators at extreme oversold levels which resulted in the VIX peaking on 3/18 coinciding with expiration of index related options.

Markets don’t always change direction during option expiration weeks but the current technical setup suggests this week is likely to see the recent rebound begin to stall.

There are 2 noteworthy technical developments we view as importan...

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