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S&P bounces as Yields, Crude, USDJPY all rally from intra-day lows

2 hrs to go, Equities remain mildly positive in the US after a complete reversal this am, as Treasury yields, Crude and USDJPY all lifted off early lows.  Healthcare continued higher, in a trend which began a couple weeks ago, and is Today's leader along with the best performing sector over the last 5 days.  For today, CELG, EW, ABT, VRTX, ALXN, ABBV, REGN, ENDP, and MNK all higher by more than 2%-   Real key going forward will be the ability of the Global bond market to stall out and roll over which was commented on this morning with Demark signals on yields of German bunds and TNX, which in turn should help Financials to bottom out-  European banks look attractive here from a technical perspective and should be in a position to bottom out and rally in the next few days time, but key will be Sx7p index making a large reversal off the lows-   Crude has reversed early losses and this sector also is appealing to buy dips given the short-term weakness within an ongoing uptrend- Overall, a push up to 2104 looks possible and over would suggest the start of a larger advance.  KEY will be Yields, and European banks.. but should pay to keep a close eye on Crude, which looks to have bottomed near key support this am along with USDJPY-  Let me know if you have any questions

 

S&P has shown signs of lifting off lows following Yield rise.  Above 2104 should lead to a larger rally

Financials have reached key support that should allow for oversold rally in relative terms to SPX.  Much will depend on yields turning back higher in the short run