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The video in this report is only accessible to members

Key Takeaways

  • Wednesday’s close leaves prices right near key 1/10/22 intra-day lows and could still act as near-term resistance heading into the next few days 
  • Post Market downside volatility in $FB, $SNAP, $PYPL, $SPOT, $QCOM might temporarily derail rally; However, consolidation isn’t thought to threaten Technology’s bullish trend
  • Bitcoin nearing its first major area of trendline resistance from Nov. 2021 highs 

  S&P’s upward progress now has reached its first meaningful level of upside resistance which might cause a temporary slowdown to this rally.  While SPX cash index looks to have barely eclipsed the important 4582 on a close, the NASDAQ and Russell 3000 have not yet risen above 1/10/22 intra-day lows.  Given the after-hours volatility, it’s not illogical to expect some consolidation after the recent sharp rise US Equities have experienced over the last four trading sessions.   SPX has quickly gained 260+ points in just four trading days, and hourly RSI gauges reached the highest overbought readings of 2022.  Meanwhile, weekly momentum remains negative.  In my experience, the combination of these often can present a difficult ne...

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