Lots of early week volatility as TNX is lower by 10 bps, taking out last few days lows and DXY also has undercut last Friday's lows. Gold and Silver are both down 3% today and Crude oil is also lower by -2.4%. Equities are having a good day thus far, with RSP higher by +1.25% and good movement from Small and mid-caps. Yet, Large cap Tech is underperforming with NVDA falling further and XLK is barely positive at just +0.28%. 10 of 11 sectors are up with Energy lower, and Consumer Discretionary surging as RSPD has moved to new highs. Market breadth is good today at around 4/1 bullish. The question remains whether the lackluster movement and recent deterioration in NVDA, GOOGL, MSFT, and AAPL not at new highs will result in SPX stalling and reversing course, as for now there is marked divergence between SPX, QQQ compared to RSP in recent days. The chart below is of ^TNX -2.49%  which shows a very big breakdown in yields. I like TLT at current levels technically for a big bounce over the next few weeks.

After reports of Blackwell demand being "incredible" we see NVDA having lost over $10 from yesterday's intra-day highs, and within $1.25 of being down on the week. One needs to watch $137.15 carefully which is 11/18 lows