Roller coaster finish is bullish for a rally up to SPX 4250 before a pause

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The chart in this report is only accessible to members

Tuesday’s roller-coaster about-face managed to recoup all of the early weakness after early selloffs held exactly where needed per the ongoing hourly uptrend.

This is a bullish development, setting up for yet another push higher above SPX-4200.  It’s thought that this could create a possible short-term peak, if this were to happen into end of week, with ideal SPX targets at 4230-50.

Maximum resistance for February likely arrives near 4300, which is thought unlikely on this initial push up.  Overall, any further rally should face some resistance once SPX arrives in overbought territory and requires possible consolidation during a difficult seasonal month.

US Treasury yields have pushed higher to important short-term resistance and it’s difficult to see $TNX get immediately above 3.70%.  Overall, I suspect yields should start to turn down in the days ahead.

Yet again, Technology strengthened over the last hour of the day and showed outperformance, along with Energy, which looks to be bottoming.  Technology has continued to show near-term relative strength; however, I feel like other sectors like Energy and Healthcare might outperform Tech during the back-end of February.

Overall, I don’t suspect February will prove to offer a “...
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