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The video in this report is only accessible to members

I continue to see the US stock market as being attractive, technically speaking, and do not feel sufficient risk is there to warrant a selloff at this time. While price action has been a bit choppy in the last couple weeks, there remain precious little other evidence with regards to frothy speculation to excessive valuation measures that would warrant a major selloff.  Rallies up to SPX-5350-5400 look likely into mid-April before a consolidation gets underway.  Treasury yields and US Dollar should have limited upside after this bounce, and both look close to rolling over.

The action in interest rates and US Dollar today might have proven to be more important than SPX’s close, technically speaking, but US Equities look yet again to have absorbed the minor attempt at a pullback and SPX has held its uptrend from early January.

FOMC Chair Powell’s “Data dependent” message along with his assurance that the next move for Rates is lower seemed to cause the entire Treasury yield curve to retreat to negative territory.  Moreover, following the early week breakout attempt in Treasury yields, this latest reversal might be suggestive of a possible rally in Treasuries (pullback in yields), which might be jump-started...

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