Stocks seem ready to pullback. The NYSE AD line has been a good indicator to follow this year to get a feel for market direction, and at the moment it is showing a bit of weakness.

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The US Dollar is finally showing some strength. This works against large caps and against foreign stocks.

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European stocks denominated in US Dollars in this ETF are showing weakness after a strong run.

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The Leader List

The leader list no longer includes Technology and many of the foreign ETFs.
 

TLT continues to gather strength. This is still an attractive chart.

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I seem to always like Health Care. I am not sure why. But I think I can justify my current bias based on this chart.

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The Qs are taking a well-deserved break.

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Outlook

The long-term outlook is positive.
The medium-term trend is up. Overdue for a correction.
The short-term trend is up as May-24. Looking for signs that the next downturn is starting.