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Trend bullish - Expect rally up to SPX 4325 before possible minor stallout;  Pullbacks should be buyable when they occur for additional strength in June.

A continued broadening out in US Stock indices is occurring, with Mid-caps now joining Small-caps in exceeding key resistance.  Thus, the former “Large-cap only” rally is now giving way to both small and mid-cap strength, which is encouraging.

Whether one chooses to sell strength for trading purposes or not depends largely on one’s timeframe and/or risk tolerance.  Overall, the recent rally is growing stronger, not weaker, and cycle composites show a turn likely in late June/early July.  In my view, even if stock indices show minor stalling out in price by end of week, near-term pullbacks should prove minimal before additional upside progress occurs this month.

Given the strengthening in Financials and Discretionary lately, along with various parts of Healthcare, like Biotechnology, this is favorable for the broader market, specifically given the resilience in Technology.

Technology stocks like $NVDA, $AMD, $NOW, $AVGO, $ADBE, which have all risen more than 20% in the last month, all still look near-term bullish technically, and hav...

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