5 technical reasons to be bullish on stocks

Mid-week market update: As the US equity market consolidates its gains near resistance and all-time highs, I remain constructive on stock prices for the following five reasons:

• Momentum is positive
• Breadth is positive
• Bullish support from overseas markets
• Greed is fading, which is supportive of further gains
• Overbought conditions are fading (ditto)

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