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Mid-day shows gains holding, which is a minor positive

Some minor backing off from earlier highs for US Equities, but still higher by 0.50% and NASDAQ leading, which has been sorely lacking of late.   Breadth is around 3/1 positive with volume flowing at 4/1 pace into Advancing vs Declining stocks and Russell outperforming SPX by more than double today, which looks to continue in the short run-  Energy, Discretionary, Tech, Financials and Materials all higher by 1%, which has been a rarity of late, but definitely more positive than negative.  A bit of short covering is present today, when witnessing Goldman's Most Rolling Short index higher by 2.25%-  Key movement this am by both the US Dollar index as well as Treasuries both to the downside represented a huge reversal to what had been seen last night, and S&P futures remain up over 24 ticks from last night's Electronic open which is seen as a definite positive-  Near-term, S&P should be able to push up and challenge 2213-4 and over would cause a much larger advance to take hold. For today though the most important piece of the puzzle within Equity land concerns the rebound in Technology and Large cap tech which looks to bounce further given today's strength-  Let me know if you have any questions