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Defensives continuing to gain ground as market stalls

Into Europe's close. a couple key things to note-  The shift to defensives is starting to accelerate- Utilities following through on their breakout to the highest levels since last July. and Consumer Staples ALSO showing signs of turning higher aggressively and a very similar pattenr, having peaked out last Summer and now just revisiting for the first time-  Stocks like MNST, PM, MKC, SJM making good breakouts and ones to Own and overweight.. while WMT has gone too far too quickly. .. Within the Utes space-  LNT, AEE, PNW, NI, SRE are breaking out and/or on the verge-   SPX still higher by just fractional amounts.. but simply holding in well and no evidence of turning down. and has crept up a bit in the last hour by 2 ticks- as Bond yields have also moved UP and 10yr back at 2.26-   for S&P 2398 will be important.. and over leads to 2404 today-  breadth currently about 2/1.. not stellar..but Financials gaining ground as yields move higher..  and now nearly have caught up with Utes, while materials also gaining ground-   

Utilities moving up to highest levels since last July

Utilities moving up to highest levels since last July