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Quick Macro DeMARK updates
Can’t believe I’m thinking it, but for the first time in a while it looks like energy is a buy. Active 13 sequential countdown on XLE, just in time for articles of a certain over-educated, long-only oil hedge fund manager drawing down 50%..
Active 13 on WTI as well
Nasdaq should remain muted to the upside given larger time frame exhaustion heading into the start of the summer. Seeing active DeMARK 13 combos and sequentials across multiple time frames.
“9-13-9” active buy countdown on the Small-cap to SPX ratio (IWM/SPY). Looks like small caps should outperform in the medium term.
Rates should continue upside pressure in the medium term with oil up and tech weaker.
My two cents. Hope you are all doing well.