Here is my chart of the weekend:
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jimkane
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Watch the .486 at 42.25 here, in case. Sometimes they use that in a 'stretched' case like this.
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jimkane
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This selling looks relentless. It may actually shoot for 27 today??? They need to bounce this soon...
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jimkane
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Major, major balance point right in here. If this doesn't bounce it, it could come under serious climaxing sell pressure. I'm short-side bias here, so I'd like it to collapse, but I'm ready for a bounce, and this is the last real spot I see.
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jimkane
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Watch the ABCD coming up right here, but if that doesn't send it back down, my levels are 42.75-43.75 and 45.25-45.75.
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jimkane
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Bearish .786 ABCD reaction. They need to come in on this little tick bullish ABCD, or else... Of course the 'or else' may just be chop for the rest of the day. Or 27...
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jimkane
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It sooooo looks like they are debating another wave of 'risk off'. I can't really see it, after all this selling, but it looks like they are thinking about it...
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jimkane
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And now Druckenmiller joins Gross and Grantham. Maybe it just took one person (Gross) to say out loud the Emperor has no clothes? At some point the bond vigilantes will overwhelm the Fed. Maybe not yet, but some day...
http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident
http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident


