I’m away at the 50th Annual CMT Symposium, a conference in NYC, today and tomorrow, so there will be no daily video, and my notes will be abbreviated.

Thursday’s advance looks powerful and fairly broad-based, which looks to have put an end quickly to the recent selloff.  The near-term improvement in short-term patterns should indicate that lows to this recent pullback likely are in place and will lead to brief new highs into mid-May. 

Technology stocks like $AAPL, $META, $MSFT and $GOOGL have all shown constructive price action in failing to weaken too substantially, and have turned back higher.  While stocks like $MSFT and $AAPL aren’t the best intermediate-term risk/rewards at current levels, for the next 2-3 month timeframes, the near-term price action still looks to point higher, and might not reverse until late May.  Upside targets for $AAPL could materialize between $171-176.

Moreover, NASDAQ 100 and Composite have both turned up in a stronger fashion than the S&P, but the wave structure suggests that lows are in place and a move back to new monthly highs is likely.  While QQQ did not reach the desired 308 area from a risk/reward standpoint, the rally back now could extend up to 322 with eventual targets near 326.

While the de...

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