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Crude, TY Yields surge, while Consumer stocks continue to weaken

90 mins to go.. Similar story as most of the past few weeks, where not much change in Equity indices, but quite a lot happening underneath that's worth noting-  It's constructive today that most of Europe managed to rally well off early lows, and should still help most of Europe rally further up to near 358 in SXXP and 3150 for SX5E..  US Dollar managed to rise sharply over the last couple hours though, and most of this was vs Euro and Yen, with JPY showing signs that it might be ready to turn up yet again-  WTI Crude rallying sharply today, up more than 4%, following an abnormally huge Draw in DOE Crude inventories this am, and momentum has turned back to positive on today's surge with 48.50 and then 49.36 being two very important levels to monitor-  Rallies back over 49.13, the former Aug highs would result in a huge move back to the mid-50s into mid-September-  AS for TY yields, yesterday's movement turned out to be a huge head fake to the downside based on today's sharp recovery, and we've seen a giant move back higher in yields for both German Bund yields, US yields with curve steepening further.  Interestingly enough, Utilities are outperforming even with this yield rise, and with Healthcare are the only other sectors showing positive gains, but just fractionally so.. while Energy higher by 1.6%.  Meanwhile, Tech lower by 1%, with Discretionary and Staples both under pressure, so an odd day indeed where stocks and bonds both selloff with huge strength in Energy-  Similar strength as earlier from the oil names but has intensified as Crude has pushed up with all 10 top performing names all energy related-  while retailing and tech are coming under pressure, with AAPL down 2.6%, and Consumer Durables have completely erased their recent breakout.. so the entire Consumer sector is coming under pressure.  for Equities as a whole, today's move is not all that much of a concern, with prices holding up above yesterday's lows and still right to use today's dip to buy in thinking S&P can push back up to new highs like the NASDAQ did yesterday-  Demark signals are not complete with regards to S&P futures and both NDX, NASD COMP have stopped out their weekly signals and should still push a bit higher