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** S&P 500 snaps 2-week losing streak, gains 0.8% in rocky trading

** Indeed, tech-heavy Nasdaq plunges into correction territory at times Thurs/Fri as rates spike, but index rebounds, ultimately cuts weekly loss to 2.1% , ends down 8.4% from record close

** Still, rising yields take a bite out of FAANGs

** This after small caps were battling some big levels , and Nasdaq 100 Futures were, in the end, in just a retracement rally

** Then the "Hindenburg Omen" buzzed the Nasdaq tower

, and the IXIC's chart woes built , with 2021 looking a lot like 2020

** The Dow has been more resilient, but is not without its challenges

** And then more "Hindenburg Omens" popped up on the market's radar

** Most sectors gain ground: Energy and financials surge, while tech and consumer discretionary tumble

** Energy leaps 10.1%. Oil stocks rise as crude prices rally on OPEC+ output cut extension , as sector heads for best quarter ever

** Financials jump 4.3%. Banks rise as U.S. 10-year yield ascends, while gap between 2-yr/10-yr Treasuries widens to highest level since Nov 2015

. S&P Banks Index up 4%

** Industrials up 3.1%. General Electric rallies >8% as MS sees 2023 as inflection point, raises PT

. Stock lights up to revisit 2018 levels

** Tech drops 1.4%. Qualcomm down ~5%, but rises Fri after earlier broker upgrade . Chip index down ~5%

** Consumer Discretionary slides 2.8%. Tesla

sheds >11% amid 4-week skid as billionaire investor Ron Baron reveals sale of 1.8 mln shares over 6 months . Cruise liners fall as capital raises in group flood the zone

** Meanwhile, Rocket shares soar as analysts eye 'GameStop-esque' short squeeze , prompting high anxiety in mortgage lending space

** SPX performance YTD:

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper.tr.com@reuters.net lance.tupper@tr.com terence.gabriel.tr.com@reuters.net terence.gabriel@tr.com))