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

ATTENTION: As I am out of town, I will unfortunately not be able to write a technical report Thursday (3/14) or Friday (3/15) this week.

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 remain precious little other 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.

Wednesday’s trading proved to be nearly the complete opposite of what was shown in Tuesday’s trading.  While Technology fell more than 1% to cause $SPX and $QQQ to finish negative, the broader market fared much better.&nbsp...

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