This is probably because the 10Y rates pulled back, which is more favorable to the small caps and to the defensive/income based stocks.
The PM sector did also very well yesterday simply because gold rushed up on the 10Y rates pull back.
You will note that gold follows a trend that is similar to that of the 10Y Treasuries.
BTC looks somewhat weaker though.
But anyway, the Futures display a straight line up accumulation move. Hence, no need to be bearish here: the trend is the bulldozer that is driven by the conductor who guides rates lower.
Conclusions:
Stay inside the bulldozer or at least out of the way.
With the rates change of yesterday, the S&P500 is priced now just at the pricing level calculated by the yield model.
