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 afternoon.

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-5350-5400 look likely into mid-April before a consolidation gets underway. Both Treasury yields and US Dollar should be starting to roll over.

US Equity markets have exhibited a bit of a slowdown in recent days, but both QQQ and SPX have successfully held up quite well on their respective retracements as compared to the former upswing from 3/15 into 3/21, a sharp four day gain.  As mentioned yesterday, which holds true today, the minor pullback has given back less than 50% of the prior gain in the same period of time.  Bottom line, this lack of material weakness is bullish and should translate into sharp gains as the month of April gets underway.

Heading into end of quarter, with on...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Want to receive Regular Market Updates to your Inbox?

I am your default error :)