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Neutral range a "MIRAGE" to the Bullish sector rotation taking place

Above-avg 0.50% gains in Futures which has helped to regain much of last Friday's loss and trading slightly above Friday's open-  Prices now within 2 ticks of 7/20 close and virtually no net movement in 3 months time-  so will require movement up above 2162 at a minimum, and below 2136 to have conviction of any sort of breakout, and this range has narrowed in the last couple weeks-  Meanwhile,  Dollar's rally continuing making up further ground vs Pound Sterling , Yen and Euro, while crude has moved back up 1.2% this am, WTI trading 50.42 and Gold seeing a minor bounce after reaching first support.  Bund and Gilt yields gaining this am.  Premkt gainers in MYL, TSRO, EXEL, EGLT, LPCN, CLDX, AUDC, MRK, while on downside- TWTR, BMY, TWLO, ZIOP, CCE, NFLX, UTX -  Bottom line-  Bullish sector rotation, where Industrials, Financials, Energy have broken out to join Technology along with sentiment being rather subdued more than make up for poor seasonality concerns, and if anything, US indices still in good technical shape, despite 3 weeks of consolidation. and better than most of the world-  Let me know if you have any questions

 

Virtually no net change in S&P in 3 months despite the bullish sector rotation, but should result in highs being tested and exceeded as this range narrows