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

I will not be publishing Daily Technical Strategy reports on Thursday (5/4) or Friday (5/5) due to travel plans. Thank you for your understanding.

Wednesday’s FOMC meeting failed to provide much follow-through in Equities, but that’s precisely what did occur in both Treasury yields and the US Dollar, both to the downside.

Regional banks continue to be a drag on the larger Financials space, and DeMark related exhaustion signals are not yet in place to suggest an upside reversal.  While these could be in place by Friday of this week, or next Monday/Tuesday, as of now, these are premature.

Energy continues to be hard hit, and has not really signaled any signs of stabilization.  Technology was lower by -0.65% on an Equal-weighted basis, but fell more on a Cap-weighted basis.  As I’ll discuss in this report, stocks like AAPL and MSFT look very close to resistance.  Thus, the ability to “carry” Technology likely will dissipate temporarily as this sector likely experiences a Spring correction.

Key areas that remain favorable include the Precious metals along with Treasuries, and Equity sectors like Healthcare and Industrials.  Among the major currencies, Euro and Pound Sterling are likely to cont...

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