Add to Cyclicals, Reduce Defensive Sectors; Semis Attractive

After the better than expected employment report out Friday, there are key index levels to focus on. Investors should continue to focus on the more important technical event developing within equity markets, the rotation toward oversold/bottoming cyclicals.

1) Market Key Index Levels: Friday the SPX was pushing above short-term resistance at the March 4 bounce highs of 3130. Next resistance is at 3259, 3328 then 3394. Support levels are 3100, 3006, 2934.

What would suggest the rally i...

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