Update: The Battle of 5,704

Technicals are improving, selling pressure has collapsed, and housing stocks are breaking out.

Good morning:

A quick update on our signals for Republic Risk readers - collapsing data - breakouts in housing stocks - and more…

I’m listening to my daughter blast Moana 2 songs in the other room. I’ve lost my CNBC privileges, but I’ll take over the television for the day.

Today is my favorite sports day of the year as the NCAA Tournament begins.

In my bracket, I have taken Florida to beat… Gonzaga in the National Championship. I think the Zags are undervalued, and no one has them getting past Houston.

They could lose in the first round. When you have 450 people in a bracket challenge, you gotta do something bold.

I have three brackets - Florida winning two and Auburn winning the other. I cannot, under any circumstances, root for Duke. Ever. That school rejected me twice.

Onto momentum…

Collapsing Pressure

There’s a battle at the 5,700 level for the S&P 500.

That will be a critical resistance line for the next two days. But I anticipate we’ll break this and attempt to claw back toward th…