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Early TY surge leads to mild S&P premkt reversal after S&P hits important 2075 target

Good morning- S&P futures have reached upside targets of 2075 as of late yesterday, and are now pulling back from those levels as we've seen a pretty rapid reversal of TY yields, Bund, Gilt yields along with WTI Crude, all which have nosedived in the last hour and now Equity futures in US seem to be following suit-   Not much action in US Dollar vs Yen, Euro, Pound this am and Gold is fractionally lower-  Overall, Equities got very stretched into yesterday's close, and upside seems limited today, with a good likelihood of pullbacks to end the month and Quarter, which historically has seen DECLINES in the last 17 of 24 years as Q2 end of month tends to be one of the worst typically of any given year.  Given that most technical indicators got very overbought yesterday on the close, we could pullback and not do much damage at all to the overall trend, and overall mild pullbacks could happen into early July before a move to new highs-  Breadth and momentum have picked up in recent days, and Equities managed to advance with little or no UNCERTAINTY being lifted regarding post BREXIT plans.   We saw a late rally in TY yields yesterday, and in general these should be attempting to bottom out. but for now into early next week, they could still face weakness, and important to note they really have NOT followed this rise in equities whatsoever-  Today's Morning piece summarizes bullish and bearish points and is found at http://newtonadvisor.com  Early movers today .. CRCM, STRZA, MBLY, TWLO, MGT, YELP C, BAC, while on downside-  TSCO, OPK, QCOM, NTRS, ALV-   Areas to buy dips in today's trading lie near the initial pivot of 2055, then 2040-5 very possible which wouldn't do much damage to the trend-  Gains back to 2075-6 should be used to sell-  and expect 2-3 days of weakness into early July before turning back higher-  Let me know if you have questions

the same Gann Square of Nine methods that pinpointed 1981.50 as of 6/27 also pinpoint 2075 now on the upside as being possible resistance to this initial burst off the lows-  Prices got to within .25 yesterday and have begun to back off this am-  Not only were Fib targets near this area for S&P futures, but Demark indicators have also come together to provide sells on 60, 120 min charts which lines up with the Gann targets.  Overall, I don't mind being short here from a trading perspective, thinking S&P could back off for a few days, but would look to buy dips into early July on weakness as next week should be important for a turn, and selloffs should coincide with LOWS in the market.  If S&P were to rip through 2075 and make a run back to new highs early next week, well, this could be a bit more bearish from cycle perspective in making a HIGH.  For now, i'm still thinking the near-term trend , while bullish, is extended and could back and fill before a move back to new highs.

S&P Futures rose to the middle Bollinger Band as of yesterdays close, which as mentioned, lined up with a few other things as of late yesterday-  Prices regained June lows which I looked at as being a positive, and pullbacks should provide buying opportunites in July

the early TY buying is seen in this hourly chart of yields pulling back towards the lows after a run late yesterday to 1.55%.. Now down to 1.49, 10yr yields should be close to bottoming overall, but the next 3-5 days could still see yields pullback one final time to the lows before turning higher-