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Rally into mid-day doesn't change technical picture

Early rally doesnt' change the thinking that trend can still be vulnerable, and if anything, rallies up to 2338 initially should be selling opportunities into end of day.  Key will be the close, vs what prices do on an intra-day basis-    For now, into mid-day, S&P futures have regained nearly all of early losses with a brief retest of 2317.75 area within a Half-Tick proving to be the buying oppty for the day as we've gone straight up since that time 3 hrs ago-   Breadth remains negative by around a 3/2 margin and still seeing Healthcare lead all other 10 sectors with Tech also unwilling to show much in the way of losses-  Materials is the 3rd sector positive for the day, while the other 8 are down, with Financials still leading to the downside, but also Utilities and Telecomm.  Europe closed down with just fractional losses and important to reiterate that Europe continues to be far stronger than the US and is resilient in comparison- which is a trend that began back from the early February lows-  Both the US Dollar and TY YIELDS should be near areas that reverse and USDJPY is showing BUY Signals from a counter-trend perspective that should allow USD to start moving back higher vs the YEN.  all of this suggests that our current pullback likely proves shortlived initially.  but for now, not too much to go on to suggest we are there, despite this nearly 20 point S&P rally off earlier lows  .  Stocks such as UHS, BBY, NFX, REGN, WYNN, MNK, CNC, COH and SIG are all higher by 2%+ while on downside-  FCX, SEE, HAL, MS, KMB, RHI, SCHW all lower by 2%+-  Let me know if you have questions