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The video in this report is only accessible to members

Despite the mild pullback to take away some of Thursday’s strong gains, this week managed to close firmly positive for both the SPX and DJIA for the fourth week of the last five. 

Financials, Energy, Industrials, Discretionary gains helped to fuel breadth all week at a time when Technology has been under minor consolidation.  Despite what has felt like a very choppy, sideways range in recent days and weeks, stocks are gaining strength internally which is a positive during this seasonally bullish month.

This past week saw commodities lift due to precious metals and energy, while base metals have begun to make some much needed progress.

Sentiment has slowly begun to turn a bit more positive from deeply pessimistic levels from mid-March.  However, we’re not near an optimistic level by any means.  It’s expected that a breakout above 4200 in the back half of April could get sentiment to bullish levels by end-of-month.

VIX has imploded in recent days as might have been expected with the lack of any unexpected events causing any real turmoil to US equities.  While Europe remains quite a bit stronger than US equities, the breadth expansion in US equities which has been ignored by many has still resulted in ...

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