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S&P exceeds consolidation highs after Europe's close

S&P June Futures moved over consolidation highs for S&P shortly after Europe's close

S&P June Futures moved over consolidation highs for S&P shortly after Europe's close

90 mins to go, S&P has just exceeded highs of this 2 day consolidation near the highs, getting above 2045, which keeps this trend rising and postpones any chance for indices to pullback in the immediate future- We continue to see some mean reversion to last month's performance with the Stronger sectors like Materials weakening, while the worst performing such as Healthcare, snapping back, and showing encouraging signs of stabilizing and moving higher, with stocks like ALXN, CERN, ZTS, MNK, CERN, VRTX all making above-average percentage gains, the real Muscles after Brussels with strong gains in the XBI and also DRG-  For now, USD rising vs both Sterling (Brexit fears) and vs Yen which has recovered much of the recent weakness down to 111 support-   Transports weak on Airlines, but not meaningful decline in the DJ TRAN, but given how stretched this has become, we’re likely to see at least temporary resistance near 8200 in TRAN-   Today's move in US Equities overall should allow for further gains through Thursday ahead of the long weekend, but given the waning in near-term momentum in the last few days, this should create the divergence that allows for possible short-term tops next week-  For now, we'll need to see movement and close down under SPM6-2023 for today and near 2027-8 tomorrow to expect markets might be turning down. and for now, with healthcare, Tech strengthening.. still very premature.  TY YIELDS also now following stocks.. and important to see TNX turn back up OVER 1.90 which adds a layer of comfort to this STOCK rally given the recent correlation, along with USDJPY getting back up above 112.20, also important.