Good Tuesday morning. Before we get to the most important investing themes of the day (interest rates, oil prices, war and earnings), what’s taken place from the 3/30 lows has been nothing short of sensational. From the March 30th lows, the S&P 500 has gained 17% with Nasdaq soaring 26%, with each putting up 7 straight weeks of gains. Without question, this has been a record-setting melt-up move higher.

Now to the flip-side; the move higher has also taken the markets to our most overbought reading of EOBOS. Here’s how we handle this; We’re position builders and long term investors, while we trade more actively with our ETF Strategy. With the VRA System sitting at 9/12 screens bullish (down from 10/12 due to the velocity of the move higher in rates), this level of bullishness will continue to have us fully invested in the VRA Portfolio. Everything about our indicators tell us that, yes, we are highly overbought, but what that primarily means is that this is when we use discipline...