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Very constructive Price action out of Crude, TNX which should lead Equities higher

Bottom line, this move just after mid-day in CL and TNX was constructive for stocks today, and despite some near-term worries about the potential of a pullback developing, this clearly looks premature given today's movement in some of the global assets that have correlated well with the S&P.  Pullbacks should be likely postponed until next week., and we'll need to see SOME evidence of trends weakening, which hasn't been the case of late.  TNX getting over 1.80 should allow a surge up to1.84..  the CRUDE pattern also quite bullish in forming a one-month Cup and Handle pattern.  and USDJPY looks to move to 110.75.  Semis have rebounded today and Banks, Energy, while staples are turning lower-  Financials in particular look to have another 2-3 days of gains with XLF possibly reaching 24 and still look poised to move higher.  Healthcare also making good strides, and has noted a few days ago, the action in XLV getting over 70.5 should help this accelerate, with above-average outperformance out of the Devices and Services names.  .  For S&P, a push up to 2110-5 looks likely at this point..  and would need to get down under 2090 at a minimum to have concern.. Expect that until we can show sufficient weakness to get down under 2087-90 area in general we should move up post ECB particularly based on the Oil, yield gains.

US 10yr yields being over 1.80 is a near-term positive for yields, thinking a pushup to 1.84 is possible

Also a good move for WTI Crude -CL in forming a near-term Cup and Handle pattern, which should allow this to accelerate up to near 45

NDX certainly didn't breakdown despite Tuesday's weakness in the SOX, but managed to snap right back and looks destined to climb above 4600 into early next week before any top is in place