The video in this report is only accessible to members
The video in this report is only accessible to members

Please click here to view my appearance on Fox Business News this morning with Maria Bartiromo.

I continue to see the US stock market as being attractive, technically speaking, and do not feel sufficient risk is there to warrant a selloff at this time. While momentum gauges like RSI have gotten overbought, there remains precious little other technical evidence with regards to frothy speculation to excessive valuation measures that would warrant a major selloff.  Powell’s recent dovishness likely won’t change too dramatically despite a second “hot” CPI reading, and it appears like bounces in US Dollar and Treasury yields could prove short-lived before weakness back to new monthly lows into this Summer.  Rallies up to SPX-5250-5300 look possible ahead of a possible late March pullback into April.  However, without any evidence of this, it pays to wait for signs of weakening breadth and/or momentum before expecting a selloff of any sort.

Tuesday’s price action was more indicative of how many have felt this market has seemed in recent months, as the top-heavy Technology stocks drove the outperformance, while many other sectors failed to keep pace.  Those companies, like $ORCL, which cited...

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