Indices up fractionally this am. But breadth is disappointing again and most of this rally has been Energy and a few select Industrials names. ON the plus side. XLI looks to be breaking out above its downtrend. However, on the flip side.. Financials is NOT participating.. nor is Technology to a large degree, so over 1/3 of the market. Yields continuing to press higher. And TNX now at 3.11 while commodities have stalled. CRUDE still showing good upside progress.. while the metals have not worked since yields and the USD turned up aggressively. As we near mid-day. Energy the only sector up more than 1%.. while UTILITIES, REITS and TELECOM all lower, as might be expected with yields rising. Today’s best SPX performers in VLO, M, MPC, ANDV, HAL, EOG, ESRX, DVN, PSX, CXO.. so 8 of the top 10 are energy. While on the downside- WYN, CSCO, IDXX, DISCA, PGR, MU, SCG.. a very mixed picture, with a blend of some Tech, Utilities and Discretionary names. 2741 will have importance for markets… but it still appears doubtful that largecaps and NDX can press higher to join the Small cap breakout we’ve seen..