Good Monday morning.

VRA Market Update; after hitting extreme overbought on steroids (EOBOS) at the end of 2023, the VRA Investing Systems most overbought readings, our key broad market indexes have quickly fallen into oversold territory. Textbook bull market action. We continue to key off of semis/tech, which as you’ll see in a moment are once again flashing early buy signals (from EOBOS).

While we’ve had a disappointing start to the new year, with the markets posting their first losing week in 10 weeks, we remain in the early innings of a long term structural bull market of size and scope. 
The Dow dropped 1.5% last week, the S&P 500 fell .6%, and the tech-heavy nasdaq posted its worst weekly performance since September, falling 3.3% (as yields rose, a counter move higher which will soon fail).

Friday’s jobs report initially came in stronger than expected, raising concerns over what the Fed intends to do with interest rates, however as Tyler covered in detail on Fridays...