Catch me on CNBC Squawk Box Tuesday morning  3/19 at 8:50 am. EST discussing NVDA and market technical.

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

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 price action has been a bit more subdued in recent weeks following momentum gauges having gotten overbought, there remain precious little other evidence with regards to frothy speculation to excessive valuation measures that would warrant a major selloff.  Rallies up to SPX-5250-5300 look possible ahead of a possible late March pullback into April.  Both Treasury yields and US Dollar could be prone to trend reversal following this week’s FOMC meeting.


The focus has turned to Semiconductors heading into NVDA’s Artificial Intelligence (AI) event this week which coupled with FOMC and BOJ meetings and a possible Government shutdown, makes this recent uptrend worth watching carefully for evidence of any turbulence.

Stock prices have slowed a bit in recent weeks, but have not shown any evidence of technical deterioration.  Interestingly enough, Equal-weighted Technology is lower over the last one-month period, in Equal-weighted term...

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