Here is my chart of the weekend:

But this looks very weak, and all the 'risk on' are very vulnerable. This could take another leg down today... Look at crude.

thanks jim.....

886 at lower line

Originally posted by jimkane

... Look at crude.

Quite a move off that overnight bearish ABCD:

It's possible big 'risk on' is about to start. Look at crude jumping. We'll see. Maybe it's just a little 'profit taking'.

Okay, ES TL about to give way, I strongly suspect.

And there it is, as expected. But let's see if they are 'risk on' now, or just another stop sweep.

Time to watch reaction to bearish ABCDs forming on the way up:

USD/CHF is forming nice ABCD with potential D in KZ (based on April the 1st pick retracement).
There are quite tight groupings around .382 and .447. It went through the lower grouping. Let's see if it bounces off the higher one.



Here's a potential D leg target on a lower timeframe



I show only those two retracements as my software is user-unfriendly when it comes to adding previously removed retracement levels, so I can present either all of retracements(including irrelevant ones) or core ones replicated manually. I chose the latter one for the sake of transparency.

Nice reaction off the bearish ABCD...

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