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Expect Choppiness, Pullbacks; We Are Buyers Long Term

Folks, my work suggests that internal market lows were developing between 3/13 and 3/18, when maximum new lows, volumes, the VIX index and the TRIN, or Short-Term Trading Index, all peaked simultaneously, followed by price lows on 3/23.

The S&P 500 closed above key resistance of its 200-week simple moving average (sma), 2648, for the fourth time this week with strong upside vs. downside volumes each day. Next resistance levels begin at the 50% retracement of the 1Q decline at 2792, followed...

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