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"How Highs the SPX mama? Two feet high and Risin ?"

Little more than one hour remaining- Only mild intra-day pullback attempt from earlier highs, & US indices remain higher by 0.50%, led by Financials, which are bouncing given ongoing Yield rise along w/ Bullish JPM earnings this am which set the tone for the sector- Breadth right now about 3/2 positive while Volume flowing at near 3/1 pace into Advancing issues v Declining-  Most of Europe finished higher by nearly 1% outside of UKX -  Today showing Outperformance by Transports while Russell is lagging the broader mkt-  Gains should prove limited given that many indices & Sector ETFs like XLI, XLY, XLK, XLF all lie near key former highs or trendline resistance, while the Bloomberg WORLD index also near these former peaks from April.  We've seen some slight pullback in the number of stocks hitting new highs & Percentage above 10-day MA, in last couple days, which isn't a SELL signal per se, but worth noting as this rally is showing fewer participating at this stage after 9% in just two weeks time-  Shorts to consider for next week found at website: and have sent to Subscribers-  For today, not much to go on to suggest peak, turn, reversal, but risk/reward looking increasingly poor for those with short time horizons-  Rally in Yields looks overdone for TY, with counter-trend sells, but structurally a good sign technically to get OVER Tuesday's highs-  Expect both stocks and TY YIELDS pullback over next 5-7 days before bottoming and turning back higher-  LMK if you have questions-


Financials bouncing on a relative basis vs SPX, after bottoming near exact former lows


XLF reversing near key trend from last Summer in XLF near 23.80-5, but still leading all other 9 S&P sectors, up nearly 1%