Please enable javascript in your browser to view this site!

S&P has BROKEN lows over the last few weeks- Now just barely positive for June

S&P has officially broken prior lows for the entire month of June as of the last 30 mins.  getting down UNDER 2412, which will be important to regain by today's close-  Technology's decline has simply been too much for the market, despite the good news out of Financials and the early gains-  BOTTOM LINE-  UNDER 2412 by the close likely drives S&P down to 2385-  Use weakness to buy Healthcare given the good structure and breakout there.. as well as Financials-   YIELDS have reached near-term resistance after a very sharp few day surge.  so difficult to expect much upside out of TNX, or Gilt, Bund yields..  but on any weakness this should constitute a chance to sell bonds- thinking yields rally further-  Today continues the recent tradition of stocks and bonds moving together which is opposite of what happened most of last year-  Breadth is about 3.5/1 negative and has gotten worse in the last 30 mins. but volume still only about 2/1 negative in Declning vs Advancing. not nearly as poor as might be expected