The video in this report is only accessible to members
The video in this report is only accessible to members
The video in this report is only accessible to members

The near-term rally has begun to show some evidence of stalling, though one still can’t make a firm case that a reversal is underway, nor that this recent rally has negated the potential for a selloff into April.  DJIA showed some evidence of reversing right near its key downtrend line Monday given selloffs in $BA $DIS $HD, $MCD, stocks which have all been lower by 2%+ over the last month and are lower YTD.  Given that many focus on the SPX, key resistance for this lies near 4495-4500 and then 4550-5 is quite important on any retest in the next couple days.  Daily DJIA chart is shown below with prices having rallied into key levels.

The video in this report is only accessible to members

Energy still showing no evidence of having peaked

Following more than a 20% decline in WTI Crude in less than a week, many expressed concern that Energy might have peaked relatively speaking, and should be turning lower.  I discussed last week how WTI Crude had pulled back right to key support and this shouldn’t be looked at as any major decline which might persist. 

Similar to WTI Crude, prices of many Energy-related stocks also failed to show much damage and now have turned back to within striking distance of new all-time highs.  This remains construc...

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