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Bond sentiment getting very negative ahead of FOMC

Into mid-day, Indices are near today's lows, with most of Europe having turned negative into the close, breadth is down more than 2/1 negative with Discretionary and Financials lagging all sectors, and Energy and Telecom are the two sectors higher by more than 1%- Yields have pulled back nearly all the way from earlier highs, nearly a 7 bp drop in the last few hours, and most yield sensitive sectors seem to be following this Yield drop and outperforming-  Sentiment wise, CFTC data shows Non-commercial Specs getting the most bearish (shortest) on Treasuries  (thinking yields would rise) that we've seen since Dec 2014 and prior to that, March 2012.. both occasions when exposure was this low, we saw a 70 bp and 100 bp decline in Yields in the months ahead, so bears watching closely into this week's FOMC as yields have gotten stretched and look vulnerable technically for the weeks ahead.   Healthcare higher by 0.42% today as further evidence mounts of this group trying to bottom out and should be favored for mean reversion outperformance between now and February-   For today, REGN, COP, XOM, PFE, MRO, JNJ, EA, WMT, ED all higher by 2% or more, while on the downside-  ALXN, VIAB, FOXA, EQT, SWN, CRF, RRC, MU and LMT all down more than 4%-  Pullback has not reached initial area of support and just a fractional decline which should be used to buy dips once prices get to 2244 down to 2240 which should prove quite strong- Crude's surge has faded a bit in the last couple hours, but should be used to buy as well, as today represents a serious and important breakout for WTI Crude and expect prices along with most of the Energy sector can show better acceleration higher in the weeks ahead.  Let me know if you have any questions