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Equities Follow-through constructive, but nearing ST overbought territory

Sharp gains in Europe this am along with most of Asia while US Futures higher by 0.40%.  Seeing a huge pullback in Bund yields this am with German bunds now at -.05 while US holds in at 1.644 on 10s.  Dollar pulling back more and both WTI and Gold up moderately-  Overall, yesterday's positive breadth 6/1 A/D-along with NASDAQ hitting new all-time highs were definitely positives and Central bank accommodation could help sentiment start to turn more bullish after contracting sharply in the last couple weeks ahead of FOMC-  Seasonality still shows this period between now and end of September to be strongly negative for Election years and hourly charts have gotten overbought again.. but structurally we've made some good progress over the last 24 hours and could get better if S&P were to regain 2183-  For now, right to still favor Industrials and Materials with dollar pulling back further and Tech with Nasdaq at new highs- Trend become more bullish for S&P yesterday over 2147 and while could have some resistance at 2167-9 and then 2177 which are the 2 areas that stand out for today-  On the downside- pivot areas at 2146 and then 2135- early gainers in WCIC, AVXL, NVAX, NAVB while on downside- MLHR, JBL, CPK- Breakouts yesterday to new 52-week or all time highs in quite a few stocks that make these worth watching and overweighting, looking to buy weakness-  IFF, APA, FDX, BDX, VAR, ADSK, ADBE-  Let me know if you have any questions