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The video in this report is only accessible to members

Markets have entered a window for potential short-term trend change, but do not expect much selling until August.  Near-term, an SPX-4500-4620 range might hold into last couple days of July before weakening down to 4350-4400 into mid-August before rally continues.

SPX does not look to have peaked, and the range discussed last week remains very much intact, and could remain so until end of month, whereby it’s expected that a pullback in Equities might get underway.

Financials and Energy, two of the more recent outperformers, both gained ground in Monday’s trading.   Energy looks quite positive for the weeks to come.  Financials, on the other hand, looks closer to stalling out, and it’s thought that the Regional Bank rally might “run out of steam” technically speaking.

While many are trying to guess what the FOMC’s language will be following this week’s probable hike in interest rates.  However, my take is that the US Dollar along with US Treasury yields should soon begin to roll back over, and this should happen by the end of July.  Thus, any “FedSpeak” that causes both of these to rollover would be my guess as to the takeaway post FOMC. 

Emerging markets co...

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