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The video in this report is only accessible to members

I feel that lows are close in US Equities, but that Monday’s finish didn’t accomplish enough to think that the “Coast is clear” just yet.  However, both breadth and momentum have turned higher on a short-term basis, and I feel this is constructive towards thinking both of these have bottomed.   Even if price attempts to break last week’s lows, I expect this to prove temporary and create a very attractive risk/reward situation for risk assets.   

US Equities gave back a bit of the early breadth surge from mid-day on Monday’s advance.  However, Technology and Financials both finished higher than 1.00% for the day and likely could help lead markets higher.

A couple key points are worth mentioning:

Both US Dollar and US Treasury yields look close to peaking and their highs for the month happened last Tuesday.  Thus, while US Equities continued down into Friday before Monday’s bounce, there looked to be a noticeable stalling out in both $DXY along with $TNX.

Breadth looks to have bottomed, after percentage of SPX names above their 20-day moving average bottomed out near 8% mid-week last week.  Since that time, this has more than doubled, which is a positive, despite prices not hav...

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