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Market Lifts off the lows, but damage has been Done- 2029-31 will be key to recover

So nearly a 10 ticks bounce off the lows for S&P.. Have seen some outperformance by Russell early on while 10yr yields have recaptured 1.88, but WTI still lower by 2.3% and that should be watched carefully for the rest of today's pre-holiday session-   We'll see the extent to which prices can bounce off the lows, but the trend looks to be taking at least a minor breather in the short run, and despite all the positives of strong breadth, and sector rotation back into Industrials, Financials, (though those are some of today's BIGGEST LAGGARDS), Tech remains strong.. and Sentiment that's been largely subdued, this looks to be short-term weakness ONLY...   We had a few warning signs in breadth dropping off a bit and momentum sliding, but only today did price confirm the break, and has since attempted to bounce a bit off the lows- Markets could certainly afford to give back 3-5% after a 13% run higher since mid-February and still would do little to no damage to the Daily or weekly momentum, so on failure of S&P go get back up over 2030 today, i think we should have weakness into next week.. And often common to see index turns on the Equinoxes, and Solstice periods.  but likely should be limited to 38-50% of what was gained since 2/11-   For today,  the largest Underperformer is Financials, then Industrials and Energy as might be expected with Crude lower by 2%..  while Healthcare and Telecom are in the GREEN.   The pickup in Healthcare strength should be noted ashaving significance and positive and on a relative basis-  Healthcare managed to regain prior lows in relative terms to the SPX which i find as being a definite positive- 

SEE XLV vs SPX has regained prior lows, which should help Healthcare recover

SEE XLV vs SPX has regained prior lows, which should help Healthcare recover

For today..   SPLS, PVH, SIG, ACN, GILD, REGN, CAG all up more than 2%..  while on the flipside- WMB, STX, PYPL, PRU, GD, WDC, CF, LNC, MS, THC, MOS, RRC, UAL are all down 3% or greater

Technically speaking, it should pay to take a serious look at GILD, BIIB, REGN, CELG, ALXN on weakness