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Stocks show minor breakout following Yellen's Dovish tone

S&P quickly gaining ground after prepared remarks from Yellen released early suggesting balance sheet should start to be reduced this year-  S&P went from +3 to +8 within the last 20 mins while Treasuries have also rallied with yields hitting multi-day lows and Gold starting to gain ground along with Crude-  Europe remains higher by 0.80% while most of Asia also continuing up.  China's HSCEI index breaking out of a one-month trend today which is meaningful .. so rallies around the globe today in many asset classes, not just equities but commodities and Bonds as well  (German bunds which had topped .60 bps, have pulled back to .58)    Overall, S&P has resistance near the key 2438-40 area and over should allow for the start of a quick move up to 2470-5 while downside still at 2400, but pivot for today is 2420, well below where we are currently (2433) Financials might underperform a bit as yield curve slips a bit, but Technology, industrials, Materials, Discretionary, and healthcare could all gain ground, along with snapback rallies in some of the yield sensitive Utilities-  Premkt advancers: CARA, CRNT, BDSI, DRRX, COHU, FAST, TAHO, RAD, while on the downside- OCUL, TEUM, AMFW, KIN-  Let me know if you have any questions