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Stabilization in Industrials, Materials a positive, but KBE breakdown is NOT

Just after mid-day, S&P getting up to what will be its first important area on this bounce-  2735 up to 2737 for this afternoon-   Above 2737 would be a meaningful development that leads to 2747-  Breadth thus far pretty lackluster at 2/1.. And while Tech is snapping back and Energy to a minor extent.  Financials are not. And we're seeing BREAKDOWNS of the minor trend for KBE with KRE on the verge-  WTI $2 gains are much more impresssive than what we're seeing in OIH.. Or XLE for that matter. And it pays to be long in XOP if you're going to play this group.  But todays move is largley the laggards.   CXO, EOG, XEC.. So while Energy is up 1%. Its misleading, as HAL is lower on the day-   but XLI, XLB and XLF have all shown DAILY exhasution in the last 24 hours.. With TRAN on deck by Wed potentailly.  So these parts of the market do look to be stabilizing (not as much Financials) but the trend in Tech clearly looks much worse and this bounce near-term.. 24-48 hours, likely something to sell into-   Gold close to turning back higher after getting down to 1240-55 zone of support.  As per S&P. As mentioned earlier.  Trend will be negative until/unless 2747 exceeded,  so this first bounce should be nearing important levels