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Rally looks to be back on track near-term; Healthcare Favored, XBI XPH

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 Fractional losses this am in S&P, but trend has turned more positive with yesterday's advance and this weakness likely a good buying oppty with support down at 2254-5 for a push higher- with 2267-72 important. but over 2269 on a close for March S&P futures likely sets in motion the move to 2290-2300-  For this am.. Ongoing consolidation for US Dollar.. and Yields.. the latter which have pulled back of late, closing the spread between German Bund yields and TY-  GOLD rising again this am, along with Aluminum and zinc.. but getting close to areas to consider trimming longs and/or going the other way.. as US Dollar index not likely making any sort of a meaningful peak, and recent weakness likely buyable for move back to highs which in turn should be negative for the metals-  Crude bouncing back meaningfully today.. recouping about 50% of Tuesday's loss.. and never quite broke down.. so still in consolidation mode-   KEY DEVELOPMENT yesterday concerned the move in Biotechs to breakout which joined the XLV in moving up ABOVE the downtrend from JULY-  this bodes well for further upside progress in this group in a time of mean reversion. and many of the WORST performing stocks from last year.. ie   ENDP, FSLR, TRIP, PRGO, VRTX, ALXN.. which were all down 30-70%..  are now the BEST performing in these first few days.. while last year's BEST-  NVDA.. has begun to pullback-  BOTTOM LINE Favor Healthcare.. and XBI, XPH, XLV, and buy the laggards, vs looking being much more selective in Financials, industrials.  but this rally yesterday likely does set in motion the start of at least a 3-5 trading day rally in US indices-  The HIGH level of sentiment, and counter-trend sells though likely prohibit this from being much more in the month of January.   KEY movers: UP-  HALO, PIRS, CEB, CTIC, SYN, GNCA, SHLD, ALXN, BIOS,  while on the downside- KSS, M, HRTX, HLX-  Let me know if you have any questions.