PRE MARKET

After yesterday’s gross, ugly, yucky, icky reversal to the downside, futures are up decently as we write this. Futures were way down overnight. Often, the day after some Fed nausea, the opposite reaction happens. In any case, lighter remains better but keep in mind, some of the mega-cap, high growth, beta tech/internet still leading big time…though a good part of yesterday’s gains reversed. All are bidding up again this morning. Also, continue to watch FINANCIALS. They remain relatively strong though they also reversed big gains yesterday.

The bond market in a bit of rally mode today (for a change). Yields have moved up into important resistance.