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Encouraging Breadth, Transports breakout, but stretched ahead of election

Into mid-day, S&P and most US indices remain trading near highs of the session, up 2%, and S&P futures have recouped about 61.8% of the decline from 2/25-  Breadth is around 8/1 positive while nearly 10/1 volume into UP vs Down stocks, the US Dollar remains up nearly .75 cents,, up nearly 1% vs Euro, Pound sterling, while higher by 1.4% vs Yen..  5 sectors are trading higher by more than 2% on the day, Industrials, Discretionary, Healthcare, Technology, and Financials, with Healthcare leading all, up 2.4%.  Meanwhile both Utilities and Telecomm are just fractionally positive.   Today's move IS a step in the right direction and given the breadth shift.. pullbacks into Election or post would be buying opptys as today looks to be an important shift-  DJ Transports have broken out today to the highest levels since late last year, and the push higher in TY YIELDs is helping Financials to act very well with Regional bank outperformance-  Technically today's gains HAVEN"T regained enough when looking at DJIA, NASDAQ, or SPX cash to think we extend right away, as all lie near important resistance-  S&P FUTURES over 2107 is a minor positive , but for now, Buying here looks difficult ahead of the indecision regarding tomorrow- Today's leaders are SYY, CENT, BIIB, HCA, NVDA, ROK, ENDP, REGN, NTAP, MNK all up between 5-10%, while on downside- NEM, ALXN, QRVO, WRK all lower by 1.4% or more-  For now, hourly S&P has gotten as overbought since September as seen by 60min RSI levels nearing 80- Look to sell into gains by the close today, thinking it will prove difficult to ignore the election and move up straight away.. but the positives of Small-cap and Transport outperformance are bullish developments-  Short covering indices by Goldman up 2.3% with a slight lead on US indices-  Let me know if you have questions

Russell 2k- Encouraging 2 day bounce, but initially this rally will be used to sell given extent of the breakdown