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SPX rally has successfully regained 4000 at a time when bearish sentiment indicators suggested few thought such a feat might be possible.  Technology’s comeback has been joined by a welcome bounce by both Financials and Healthcare;  both of these sectors will need to continue rallying to help SPX get “over the hump.”

Breadth has been quite strong on the rally attempt into mid-week with multiple sectors like Industrials, Financials, Energy and Healthcare, which had all lagged in recent weeks, starting to suddenly come to life. 

Helping to broaden out this rally outside of Technology and regain the damage done since early February is a necessary step towards eliminating any chance of Indices turning back down to test early March lows. 

Late March very well could be “kicking into gear” to follow traditional seasonal patterns, and the month of April is also quite strong in pre-election years before a sub-par May begins.  This coming April, it’s vital to watch the second full week of April, or 4/10-4/14.  This has key relationships to former lows from October 2022 and also July 2022 which could result in a change of trend.  It’s thought that rallies into this time likely could stall or bri...

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