I will not be publishing Friday, 4/21 due to travel plans. Thank you for your understanding.

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No evidence of any change of trend, and repeated attempts at taking stock indices lower continue to fail.  It appears likely that another 4-6 trading days of possible gains should happen which lead Equities higher into late April.

This timeframe is based upon a combination of cycles, DeMark indicator projections, and ongoing bullish April seasonality. Furthermore, trends have shown zero ability to break down, and the mild sector rotation towards Financials, Discretionary and various parts of Healthcare (Medical Devices, Biotech) are bullish factors in the short run.

Equity breadth has certainly waned a bit on the recent underperformance in Technology.  However, some mild recovery has begun in Equal-weighted SPX with various sectors slowly but surely starting to rebound.  The intermediate-term momentum and breadth factors are still supportive of stocks.

Treasury yields are growing closer to trading resistance, where yields likely peak and turn back lower, and US Dollar index also should weaken to test and breach monthly lows.

Commodities are likely to rebound in May, and Gold, Silver and Copper should all be overweighted...

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