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The video in this report is only accessible to members

In Tuesday’s session, SPX and QQQ have rallied sufficiently to think that a short-term low should be in place, which could lead back to new high territory.  This is based on wave structure, breadth, momentum, seasonality and cycles.  Furthermore, US Dollar and Yields both began to turn lower today on April’s sub-par Flash PMI data, which is encouraging for risk assets based on the correlation over the past year.  While this move might not prove to be a straight shot higher, it looks right to expect that lows very well could be in place, and higher prices are likely into May.  SPX target on this move should materialize near 5400.

Simply stated, SPX’s move off the lows was impressive in terms of technical structure, breadth and outperformance from recently hard-hit sectors like Technology and Healthcare.

While no corresponding DeMark-related exhaustion signals were ever confirmed at this week’s bottom, there was a prominent cycle that suggested that 4/20 could bring about a low to the recent decline in risk assets.

The decline in US Dollar and US Treasury yields on the heels of massive Commodity Trading Advisor (CTA) shorts looked to be an important catalyst as to why US Equities were a...

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