The Invesco Solar ETF (TAN) recently pulled back 11% and found support from where we believe a rally is starting to take place with the potential upside of +19%. At the individual stock level, our three favorite long ideas are First Solar (FSLR), Jinksolar (JKS) and Enphase Energy (ENPH).

The SPX held and reversed at the ellipse in the 2789 area which gives the index an 80% probability of going above the recent high of 2819.

Short-term, the S&P 500, Nasdaq Composite and Russell 2000 pulled back to zones where we should see prices starting to hold and turn up from. The intermediate to long-term trends remain positive and we maintain our bullish view. We also remain bullish the Midcaps and would look to buy near-term weakness in the MDY.

The driver for the idea is the strong multi-factor model score for VZ of 5.65 vs. that for T at -6.1. The ratio chart below has a bullish setup as it has just broke the downtrend off the January high.

CXO - Short Idea - Target of 100.92.

Short Idea MPC - Target Price of 55.30.

After ranking and screening the components of both the Financial Select Sector ETF (XLF) and the Regional Bank ETF (KRE), we present 24 long ideas that we like right here. Each chart has a long-term view and is measured relative to the S&P 500. A number of these stocks have recently broken above multi-month downtrends off the 2018 highs and a turn up in relative performance.

Not much has changed in a week. Upside momentum remains firm and we have a number of indices above their 40-week average. Although most of the U.S. indices reviewed are overbought short term, it’s a “good overbought” where any weakness is short lived and met with more demand.

Not much has changed in a week. Momentum continues to build, and we have the S&P 500, Nasdaq Composite, Mid Cap (MDY) and Dow Transports making their way above their 40-wk. averages.

This report highlights long ideas where we screen for stocks where shorts have been active and adding to their positions.

The next few days will be very telling for both the DXY and EURO. The overall bias for the EURO is weak and we are looking for a short-term rally to sell into.

Upside momentum remains very firm for a number of U.S. indices and we want to stay the course on our intermediate to long-term call which is bullish.

The driver for the pair trade is the negative technical view of CBS. The stock is rolling over under an area of resistance. The chart of the pair and CBS is below.

We would be buyers of gold this morning.

Please find in the attached pdf this weeks review of a number of currencies and commodities.