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Gold declining, rates moving higher, Mild Equity pullback underway

Will be on CNBC today 3:30-3:40..  Into mid-day, S&P has given back about 50% of the range from Tuesday's lows into yesterday's peak just above 2400.   Ideal support for this pullback lies near 2380 and below near 2373-4 should be a good risk/reward spot to buy given the bullish breakout we saw yesterday.  Anything more suggests a larger pullback could get underway.   Given yesterday's developments, this seems to be on the back burner for now and near-term pullbacks should be a chance to cover shorts and look to buy into sectors like healthcare, Energy, and the stronger Financials which could outperform given a YIELD move above 2.52%.   Important to note: Breadth is stronger on this pullback today. at nearly 3/1 than it was on yesterday's advance-   Given the rising forces of Yields and USD..  Gold pulling back down under 1240 which should be a common theme..  For today..  Utes, Staples and healthcare the only POSITIVE sectors, while Financials are lower by more than 1%, and Tech, industrials and materials all down by 0.50% or more- Tough to get too bearish on this move in stocks outside of just a few down days to relieve overbought conditions unless prices move back down UNDER 2370-3 area where S&P broke out from yesterday-  this will happen eventually.. but for now it looks premature with Yields looking primed to breakout and should help Financials OUTPERFORM..  So today's underperformance and lagging in this group is largely due to the extent they reached severe overbought levels yesterday-   Let me know if you have any questions