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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 choppy in the last couple weeks, 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.  Treasury yields and US Dollar should have limited upside after this bounce, and both look close to rolling over.

Much of Thursday’s late day selling caught the market off guard and wasn’t driven by the typical Treasury selloff on Fed hawkishness.  In fact, Yields went lower during the afternoon plunge that seemed to wreak havoc with the slow volatility environment that 0DTE players have gotten accustomed to in 2024.

Dollar/Yen and Treasury yields both worked their way lower after a mixed bag of messages by the Fed, and it’s tough to pin Thursday’s selloff on Fed hawkishness.

However, the selling proved intense, and according to Bloomberg, more than 80,000 S&P E-mini Futures traded in each 10-minute window between 2:10pm EST and ...

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