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Crude back to new highs should lead Energy into next week- Utilities also favored

Mild gains in US futures in a follow-through to yesterday's breakout of April highs by S&P Futs- while SPX could achieve this by today-  Europe and Asia up moderately and Crude up to new highs, exceeding 50.21 while Energy showing signs of turning up also on relative basis based on yesterday's surge, so today should experience similar move by Energy stocks, and would expect a strong showing.   Healthcare meanwhile might lag in trading today given VRX and BIIB weakness, while ENDP also down nearly 5% in premkt-  Treasuries rallying again today similar to last week when yields dropped along with stocks and we're nearing key areas where yields likely make a stand-  For now though, German bund yields dropping to new lows, under .065 and just fractional gains in JPY for this morning.   KEY TO emphasize-  US Indices now showing divergence among each other as not all have moved above April highs, and this will be important to concentrate on, while recognizing the move in Small caps with outperformance in the Russell 2k in the last few days, which still looks to continue-  Early movers in Z, RGLS, WMB, AXLL, SRPT, CTIC positive while on the downside- DRYS, VRX, BIIB, ENDP, CTLT, TRIP, TRU, JBL, YHOO, and GDDY-   For S&P today 2115-6 important for futures, then 2122-2, while 2104 pivot and 2097-8 important as support-  Let me know if you have questions

Move to new highs in $SPX futures, could be followed by $SPX in the days ahead- Structure remains constructive

Crude back to new highs this morning.  Momentum likely won't follow this move, but still premature to sell, and upside to near 52 looks possible into next week, with a key time zone for trend change near 6/14-16 while 9/19-21 also important

Energy could experience some outperformance in the near-term after having lagged since early May, but with Crude back to new highs, expect a final boost higher for Energy and see this start to relatively outperform