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Bond yields, EURUSD spike initially post ECB action

ECB's 9 mth extension and Tapering bringing about initial spike in EURUSD this am, which has since pulled back nearly 100 pips in the last 10 mins.  back down to 1.0754..  while yields jumping globally-  BREAKOUT in German Bund yields and Swiss 10s nearly positive.. so a LOT happening in bonds, currencies, while Equities not doing a whole lot-  Day 2 of outperformance in Europe vs US. and still better to own EUFN than XLF for the next few days. expecting MORE relative strength out of Europe-  Equity wise, this move in TRAN to breakout to new highs is a definite positive in the short run. though S&P got stretched well beyond resistance yesterday and will likely need to consolidate gains for 1-2 days before this can move higher.  Trend sharply positive right now into year end and premature to expect any meaningful pullback.. but the near-term forecast does call for some backing and filling in US before this can move back up.-  the YIELD rise this am will likely prove to be a positive for Financials yet again and likely serve as a chance to sell into Utilities, REITS, and anything Yield sensitive, which bounced over the last couple days, but still not showing evidence of a real bottom at hand-  Precious metals meanwhile likely to continue UP in the short run, given Dollar woes. but have to be watched carefully if EURUSD holds resistance and turns down sharply and start to see USD stabilizing.. as Larger trend in Dollar remains very much positive which is a net NEGATIVE for Gold/silver-  for S&P.. last hours lows of 2227 important. and under could cause pullback to 2210 support which is initial one to buy-  ON upside, above 2235 have to stay long for a move to 2244-45-  I had suspected US could pullback today, but the trend of the last 8-10 hours which has been sideways.. likely will hold the key-  Financials for now.. could dictate near-term price action in indices and given yield movement.. still positive at the moment