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The video in this report is only accessible to members

Trend bullish- Expect rally up to SPX 4515-25, and above to near 4550-65 initially into next Friday, while QQQ’s move above 376 might help this reach 380.  No evidence of any trend deterioration and right to stay positive barring more warning signs.

Thursday’s acceleration has lifted SPX up to near my targeted resistance while QQQ has surpassed 376.  While it might be tempting for investors to sell, there hasn’t been much evidence of any technical deterioration, and my key cycle date doesn’t materialize until next Friday 7/21. (Even this should be a short-term reversal only, and I’ll discuss this in more detail as it nears)

The broadening out in the US markets has proven impressive, and the last week seems to have rewarded investors who have been patient in sticking with laggard groups like Energy, and Financials, not to mention Chinese Equities, and many Emerging markets.

It cant be overemphasized what a large decline has been seen in the US Dollar over the past week along with a huge drop in Treasury yields that occurred very quickly, directly following some sub-par US economic data.  This has spearheaded the big surge in precious and base metals, and Materials sector has caught up...

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