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US indices regain losses, but momentum still a huge concern

30 mins to go in the month of August-  S&P has gained enough to cut all of its monthly losses since Tuesday and now positive for the month- Nasdaq and DJIA are both positive for August.. and Tech is the overwhelming leader for the last month.. while Healthcare gaining ground after its own breakout early last week with Biotechs , and this has been followed just in the last couple days with Pharma and Med device strength..  Breadth is stronger on today's move than we saw yesterday at a bit less than 3/1 positive.. and Healthcare the overwhelming leader today with Biotech showing a bigger breakout to new highs for 2017 along w/ Energy and Materials strength-  Financials remain the weak link which is a minor concern-  Overall S&P has moved very quickly back towards the highs of its August range and should encounter resistance at 2476-80 just above current levels, and given teh NEGATIVE momentum on weekly charts..  this sharp rally could be used for profit-taking into September as indices approach highs-   Today's top gainers are TIF, BIIB, BWA, EXPE, CELG, while on downside- CPB, DG, CHRD, WDC-  Let me know if i can answer any questions