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The video in this report is only accessible to members

Tuesday brought about a very strong initial advance that brought SPX up to the key 3928 level, but failed to finish above this level at the close.  DJIA also failed in this regard, but yet Tuesday did prove respectable with regards to breadth, albeit far less than early in the session.

NASDAQ, to its credit, still hasn’t taken out early March lows, but the strength in Technology has been one of the saving graces for US stocks over the last two months.

Yields backed up and retraced some of the weakness in recent days.  However, it’s not a stretch to think that FOMC will consider the recent bank failures as potentially being far more important than CPI which comes in roughly in line with expectations.

Key outperformers were found in Technology, Energy, Healthcare, and Financials as at least minor evidence of at least a trading low looked to be in place.

Cycles based on my historical composite along with pre-election year March seasonality and the 80-day trading day cycle all suggest this week can be important for a possible change in trend.

Importantly, more needs to happen to confirm a strong bounce is underway.  The mid-day reversal of the initial surge wasn’t necessarily bearish.  Prices on most majo...

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