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The video in this report is only accessible to members

Equity trends show no evidence of wavering.  Despite this week’s mild consolidation in Equity indices, the Cyclicals have managed to kick into gear to provide support to Equities and little evidence of any trend break has occurred in uptrends of QQQ nor SPX.  Technically speaking, this week’s mild consolidation should represent a buying opportunity for a push higher into mid-March before any consolidation sets in.  Importantly, both the Equal-weighted S&P 500 ETF ($RSP) as well as the NASDAQ Composite have just logged new all-time high monthly closes as of the end of trading today, 2/29/24.  SPX requires a break of last week’s lows (SPX-4946) to have even minor concern about additional weakness.

Equity markets remain in a sweet-spot right now as February has come to a close having shown no real evidence of weakness that traditionally is possible in Februarys of Election years. 

Trends remain upward sloping on short and longer-term timeframes.  Momentum is positively sloped and, while overbought on daily and monthly basis, has not really begun to diverge meaningfully.   Technically strong sectors like Technology have been joined by strength in Healthcare, Industrials...

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