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Draghi inaction resulting in further USD decline, Metals surge

Will be on CNBC today 3:30-3:40 pm-  Key thing to mention this am-  US Dollar rolling over again and commodities continue to lift-  Metals.. grains, and to a lesser extent, Energy-  Bund yields have shot up over 20 bp and likely can move to 23-26 bp before finding much resistance, and our own 10-yr YIELDS have surged, exceeding key 1.80 yesterday which has now followed through and broken ABOVE the key minor trendline from last DEC highs.  This should cause a move to 1.90-2 and should be a key reason why the Financial rally extends a bit longer into early next week, with XLF having important resistance near 24 and also why US Equities might hold up a bit more also-  Sectors which should outperform-  MATERIALS.  Healthcare.  and particularly the Metals Mining within Mats.. and Device Makers/Supply stocks within XLV though BIIB up about 5 this am, or about 2%-  Between now and next week, i see limited upside for Equities but the trend remains POSITIVE and S&P FUT could get to 2110-5 before any stalling and reversal of trend-  Industrials, Discretionary, and Financials getting close to resistance but not quite there, while Materials, Healthcare have just broken out-  Look to avoid/sell/short Utilities and Staples.  as this yield rise is a definite negative while the defensive groups still look to move lower-  

S&P still showing little signs of any real weakness despite slowdown-  Movement up to 2110-5 looks possible, ,based on financials healthcare strength

Gold breaking out again with Draghi inaction and USD moving lower- near-term targets at 1310

Surge yesterday above 1.80 brought TY yields higher and have broken downtrends from early this year which should keep the bid in financials intact for now.  Movement up to 1.90-1 looks likely