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Yields, Dollar Spiking, while Financials improve further and Defensives plummet

One of the more meaningful days technically in some time when looking a the degree of movement across all asset classes.. with US Dollar pressing higher vs Yen and Pound, US Treasury yields surging with 2 year arguably breaking out of 1 yr pattern.. Gold breaking down out of its multi-month range, while Defensive sectors are all violating key support vs SPX when looking at Utilities, REITS, and Telecomm while Financials and ConsDiscretionary turn up sharp enough to test key resistance;.  Despite US equities showing mild weakness, we're seeing NASDAQ outperform and Transports also showing good strength, and important to note the degree to which many sector etfs have broken out vs SPX In relative terms in the last couple days, specifically when looking at Equal-weighted sectors, as Tech move from Sept has now been joined by Energy and Industrials.. while financials, Discretionary close and Defensive sectors moving to new lows-  Will be tough to make much of S&P move until 2169 exceeded, but for now, weakness should be used to buy, as tough to use USD gains as reason for Stock pullback, and Declines still seeing less than 3/2 negative breadth-  Market seems  poised for upside move and could be timed when Financials officially break out-  The weak link of late, Healthcare which is the ONLY negative sector on a YTD basis, is the 3rd best sector on a 1 month basis with ILMN, LLY, TMO, PRGO, ISRG all showing better than 4% gains in the last month-  Based on Technical developments in the last 12 hours its right to look at longs in IYT, JETS, DXJ, UUP, EUO, TBT, YCS, while looking to short/avoid buying dips in GLD,GDX, NUGT, NVQ, XLU, TLT-   Let me know if you have any questions

Chart below of US 10yr yields vs German bunds, showing widening spread.. and TY yields moving up and breaking out vs bunds. So this looks to continue in the days/weeks ahead

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