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Stocks extend gains, with Metals, EM outperformance

Minor gains in US while most of Europe up 1% and China rising 2% today w/ HSCEI moving higher to test Feb highs-  Key developments overnight were the BOJ and Swiss Nat bank leaving rates unchanged, while China lifted its borrowing rate , following the US yesterday-Sector-wise,  Metals stocks have done very well in turning higher in the past 24-48 hours given US Dollar weakness and that strength is continuing today with Iron ore, Zinc, copper, and precious metals spiking-  Gold up 26 this am, or over 2% while WTI crude has pushed back over 49 as this rally also begins to gain speed-  Yields backing up a bit today after yesterday's Bond rally taking yields down 3-4 bps across the board-  Overall in Stocks.  minor overbought conditions from yesterday's rally and early strength up to 2388 pulling back fractionally but should be good to buy for a push up to 2400 and over into next week-  Trends improved dramatically the other day in SPX and also DJIA, NDX and tough to consider selling  just yet with yesterday's 6/1 breadth rally which should move back to new high territory for both SPX and DJIA-   Percentage of stocks trading over 10day ma has doubled in the last week from 30% to nearly 70% as of yesterday's close- Overall its right to stay long the Metals, mining stocks, energy , while being a bit more selective in Industrials, Financials but trend has become more positive and likely to take US indices all back to new high territory-