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Treasury reversal yesterday looked important- S&P still positive until/unless 2151 breached

Minor gains from US Futures while most of Europe and Asia are lower-the US Dollar is higher as weak UK data resulting in GBP weakness to the tune of 1% while Gold also down by -0.60% and WTI unchd.  Treasury yields have bounced a bit after yesterday's reversal but still look likely to trend down into next week along with USDJPY.   Bottom line-   Trend still positive in US and tough to call for weakness until/unless S&P gets under 2151 with 2139 the larger area which if violated , would call for a larger correction.  For this am, mostly earnings beats as AAL, MCO, TXT, HON, WHR, GE   all beat expectations.  while yesterday's post close T, SBUX, PYPL  earnings resulting in early losses.  with the latter having gained ground initially to new all-time highs before fading.   For today-  downside support 2152-3, and then 2143-4-  On the upside- 2167-70 is the area of importance to the upside-, over leading up to 2183-5-  Look to maintain a positive US equity bias, using rallies up to highs to sell, while avoid getting too bearish unless/until 2152 is breached

 

S&P-   61,.8% Projection from former rally from mid-FEb into April-  Still tough to be bearish unless 2151 taken out

 

Reversal yesterday looked important for both TNX and USDJPY-   expect pullback to 1.45% next week in TNX lower before any move back higher can occur