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S&P Breaks near-term support, causing acceleration as Financials reverse

into mid-day, S&P has pulled back to multi-day lows on breadth of about 3/1 negative.. Financials and Tech both down more than 1.5%, while Industrials, Materials and Telecom all losing more than 1%.  KEY LEVEL FOR S&P FUTURES lies at 2450-3, which as of now is being undercut. but these levels line up with late Aug - 22-24 and UNDER would be a negative into tomorrow-  S&P has now given back over 50% of entire rally from late August  and UNDER 2443 likely accelerates down to test and break lows of 2421 from 8/29-   NECESSARY for the bulls to regain 2460 to have any sort of confidence in near-term price action.. and for now.. its right to be defensive.. while knowing that current levels do have some importance as of end of day-    Most of Europe closed well off early highs and down at a loss but seeing Semis down 2% and also Transports reversing is certainly not a positive as well as Financials giving back all of last Fridays gains and down to lowest level since late June-  Treasury yields are down under 2.0750 which puts yields at new lows for the year-  Counter-trend BUYS for yields potentially 1-2 days away.. but for now, the trend has been fairly sharply negative for yields for the last 2 months now  and Financials have had a difficult time rallying given this yield compression-  The positives today involve ENERGY which is one of the only sectors positive today along with Utilities, and Crudes move making short-term breakout which is a plus for Energy while Gold also back to new highs and still looks to have a couple more days of gains before counter-trend sells kick in.  but trend in both Gold , Crude and copper moving up.. but COPPER in particular getting stretched-   Happy to entertain questions on any stock of interest-    

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