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The video in this report is only accessible to members

Equities have shown evidence of turning back higher to end the week following confirmed breakouts in AAPL along with initial evidence of both Treasury yields and US Dollar turning lower.  While the Equal-weighted S&P has some work to do to regain its former bullish structure, the comeback in Healthcare and Industrials lately has been constructive.  SPX and QQQ both closed back above areas of short-term resistance, and Small & Mid-cap indices also managed to clear recent highs, which is bullish.  Overall, I expect that SPX has begun its trek back to late March highs at 5264.85 and should exceed this en route to 5400.

To summarize the week, it’s likely that our recent pullback from late March is complete given the start of Treasuries and Equities to turn higher along with a meaningful pullback in the US Dollar.  The FOMC’s plans to accelerate its QT tapering along with a weaker Jobs report helped to counter the recent hawkish narrative that had driven rates a bit too high.

Technology enjoyed its best day in more than two months on Friday which should have kicked off a push in Technology which could resume its rally back to new highs following a multi-month consolidation.

A key quest...

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