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Prices have surged above last week's highs, stopping Shorts

Around 90 mins into trading, index prices have moved up aggressively to exceed former highs from last week, , and getting above 2356.75 as well as 2360 stops out trading shorts, and while this doesn't mean its right to establish new longs at current levels, it's proper to await some evidence of reversals taking place before betting again the trend with no evidence of any About-Face-   VIX is still holding up resiliently above highs made in late January and this entire February advance has NOT caused implied volatility to fall to new lows-  RSI has risen to 80 on Daily charts, which is Above the highs seen post election when equities rose 10%. and also has JUST exceeded 2/15 highs of 79.87 area.. so after a sharp price rally, momentum had been below up until this morning- The 2 key developments from earlier are still holding gains, in both WTI Crude and in US Dollar index and yields remain higher with German bunds back up above .315 while US 10yr yields are at 2.434-  One addtl market to note-  Japan attempting to break back out to new highs above Dec-Feb consolidation, which is more apparent in TOPIX than in the price weighted NKY, but with USDJPY on the rise, ETFs like DXJ help to hedge against a declining Yen and appear to be breaking out as of today's close-   For today, Energy, Staples, Discretionary all showing more than 0.75% gains while Healthcare, Tech and Industrials are the 3 sectors all UP less than 0.50%-  So the sectors that are leading in YTD performance are up the least.. while this years WORST performing sector- energy, is outperforming, largely on Crude gains.  Breadth showing about 3/1 positive-  To think a bearish view is back on the front burner.. S&P will need to reverse early gains and close down under 2346 at a minimum, but really under 2336.