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Sideways range still very much in place

Very lackluster tape continues. as earnings roll in..  mild gains in Europe and most of Asia managed to recover early losses-   Dollar down with Treasuries while WTI attempting rebound.   No Net change in S&P now since mid-February.  A couple things of interest-  Equity Put/call managed to climb over .90 on recent pullback attempt to 2322.. highest since last October.. and Tom McClellan out today suggesting that 10-day ma of ARMS index is at levels which historically has coincided with rallies-  For now.  mild downtrend continues and until 2349 exceeded on a close and even 2357 on a closing basis, the larger trend from early March will be slightly negative and can't rule out pullback again to challenge 2322.. but is thought that consolidation SHOULD eventually lead higher.. and pullbacks should prove brief and could be over by next week-   Let me know if you have questions