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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 late day rally let $QQQ regain most of Wednesday’s weakness, while SPX and DJIA pushed back to new highs for this week.  DJIA in particular, has begun to look far more positive in the last couple weeks, and now lies just 2% off former Fall peaks from 2022.

Large-caps showed more strength Thursday than Small-caps, and S&P Sector SPDR ETF’s like $XLK and $XLY both closed up more than 1% on the session.

While the VIX is getting stretched to the downside, and short-term ratios of Equity Put/call have plummeted to near levels which argue for minor pullback, price action has not suggested such a move is upon us.

Overall, a rally in SPX back up to 4325 and QQQ to 360-1 looks likely before any stalling out, no matter how minor.

As weekly QQQ charts show below, price has now eclipsed the 61.8% Fibonacci retracement level of the prior decline.  Given that no evidence of upside exhaustion has been confirmed using TD Sequential or TD Combo on daily nor weekly charts (and appears to be roughly four weeks away on a weekly basis), it’s likely that pul...

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