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Still no real evidence of real weakness in Equities

 Minor gains in US stocks while most of Europe finished with small losses-Breadth remains about 2/1 positive while Tech's rebound continues this week, and along with Energy, Industrials, Materials, and Real estate.. Are all higher by 0.50% or above.   Discretionary, Healthcare and Financials are the weak links today, and seeing USD show moderate losses vs Pound Sterling, Euro while very little overall movement in TY.  Looking back this week, Healthcare dominated all other 10 Sectors with gains of nearly 3.5% on the week, while Tech actually was a not-to-distant 2nd-  On the downside meanwhile, Energy was lower by 3% while both Utilities and Financials fell over 1%.  Gold looks to be turning back up which began Thursday and was noted in today's Daily Technical Comment as being a possibility and commodities look to be close in general to an oversold bounce after selling off to the lowest levels since last Spring-  Heading into next week.. Still NO evidence of any real weakness in equities, as tech has snapped back, but will need to continue to gain ground, as the absolute charts have shown a bit of near-term technical damage, despite the intermediate-term trend being firmly in place.  Healthcare has gotten a bit stretched after big breakouts by both Biotech and Pharma.. But this sector should be overweighted, looking to buy any dips given the chance in the weeks ahead.  The positive structural bias in US equities has not been followed by a similar move in Europe, though most indices across the pond also lie in good technical shape in the short run.  And it's worth pointing out that despite the UNCHANGED CONSOLIDATION in US stocks throughout most of June, breadth did improve measurably given Healthcare and industrials ability to join in and show some leadership.. And there remains precious evidence of any real technical damage with the indices themselves.  The Percentage of stocks trading above their 10-day has dropped to 38% as of yesterday, down from 74% earlier in the week..  While the percentage of stocks above their 50-day ma remains above 60^ at 63.96%.  Only a couple minor negatives in the short run - the dropoff in Finanicals with YIELD CURVES breaking down on a weekly basis for both 5/30 and 10/30 on a weekly close..  And Financials will need to buck the trend and rally to help this market remain afloat.  And the Put/call ratio for equities dipped down to .50% the lowest daily reading of the year.  So this will also need to be watched carefully-   Have a nice weekend. And let me know if you have any questions