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Breakouts in S&P, US Dollar index, while yields push higher

gm-  So  key developments include S&P and NASDAQ breaking back out to new highs to the upside in futures, while US Dollar index also showing signs of making a strong bullish move this am, while rates creep back up-  This is a negative for Gold and the metals, and one should look to consider betting against EM, while favoring further USD strength vs Euro, (EUO) and/or Yen (YCS) while holding off on shorting into this S&P move until price dictates its right to do so-  While it was right to bet against this rise continuing a week ago, it resulted in nothing but sideways consolidation and now prices are breaking out again, so tough to be negative and have to participate in some shape or fashion-  Biotech longs look attractive, Financials (non-broker dealers) can likely do well and one should look to fade the Defensives based on this move-  ie   short XLU, XLP-  If in fact today's move is fake and reverses, than that will be addressed post close-  for now, any ability of market to HOLD these gains would be a positive, and means a bit higher prices are still likely-  Upside resistance 2385 for today..  above that allows for move up to 2400- Selectivity still necessary at this stage and dont' expect we have more than 1-2 weeks of rally into mid-March before indices peak-  This kind of move will take sentiment to far more bullish levels than has been seen all year, and worth monitoring-