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

Trend still bullish - Expecting upcoming push back above SPX-4200 –No change on last week’s comments - Wave structure on a short-term basis remains constructive, and should lead SPX back up to eclipse 4200 potentially into 5/24-27 while QQQ hits 328.  Only a decline back down under SPX-4112 would serve to postpone this rally.

Monday’s rebound in Regional banks looked particularly constructive as a reason why SPX could rally.  This is quite helpful in driving the broader Financials sector, which remains the 3rd largest part of SPX.  Charts in this report show reasons for optimism.  

Small-cap underperformance vs. Mid-Cap and Large-Caps has been showing some mean reversion after a difficult few months from Small-Caps.  Regional bank rallies should help to aid Small-cap outperformance.

Energy very well could be bottoming, as US plans to buy 3 million barrels for its Strategic Petroleum reserve.  Monday’s gains looked constructive for Energy.

Technology made an impressive gain Monday which brought the Equal-weighted Technology ETF $RYT up to the highest levels since mid-April.  This looks like a temporary positive.

On an equal-weighted basis, sector performance was far stronger than ...

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