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Semis leading mkt , up 2% as NVDA powers higher

Into mid-day, most of Europe managed to close up from early losses.. Breadth about 3/2 positive-   Today seeing OPPOSITE activity than what has been seen over the last few days.  Treasury yields are LOWER.. US DOLLAR Is lower.. and both WTI Crude and Gold are higher.  the markets biggest laggard.. IN terms of today's biggest developments.   Semiconductors have broken back out to new highs given NVDA's positive report this am.. (mentioned in this am's Daily Technical Comment) and Hong Kong market hitting new 21-mth highs-  broadly speaking.. Energy is leading all other sectors, higher by 1%.. and Tech, Financials also positive helping indices to hold afloat.. Just minor weakness in Staples, Discretionary, healthcare, and Industrials.  (note- Transportation has been a notable area of weakness of late, and has NOT acted similar to rest of the market, peaking out in mid-February) For now, nothing meaningful in index volatility to draw concern.  Defensives catching a rare bid, but should prove temporary, as yields remain trending higher and today's bond rally should present a chance to sell Treasuries, expecting yields to move HIGHER in the weeks ahead into early June