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S&P closing in on All-time daily high close

Just after mid-day, most of Europe managed to close with fractional gains, & US holding earlier gains of near 0.75% which puts S&P futures within 5 points of all-time high close from 3/1  and DJIA within 70 points of its own all-time high close-   Breadth is about 2.5/1 and seeing Materials outperform all other 10 sectors right now, with Financials in a close 2nd..  Only down sectors are Utes, Telecom and Real estate  as might be expected with rates surging now for 2nd straight day-   Trend getting a bit stretched on 3-4 hour charts to overbought levels not seen since mid-March, but no evidence of any counter-trend reversal signals and prices are likely to test all-time high levels in both S&P and DJIA before any reversal at this point- Overall, no reason to take profits ahead of today's close. and long bias still right even on 1-2 day basis as prices continue to press up, with Financials outperforming and Tech doing well with NDX back at new highs.    CAT, WAT, NFLX, FCX, MCD, MAS, WHR all higher by 4% or more today-  while on downside-  R, ESRX, TROW, CAG, ZIONS, LH, PHM, NEM all down 3% or more-  Let me know if you have any questions