Market internals continue to strengthen despite a second straight weak open, confirmed by rising long bond (TLT) yields as reflation is priced back into risk assets. Utilities (XLU) are down much more than the market, and high beta smallcaps (IWM) perform well. Does this month's move signal more to come in the risk-on trade? Could it mean a recovery in time for the presidential election? (submitted by Michael Gayed)