hello first post on this site,but id be very surprised myself if this is a bear trap.the news out of the uk this morning is absolutely terrible.yesterdays cycle bottom has already been breached in globex also.sell the rallys i reckon.
US Treasury Bonds down 12 full points since high over 141.00. Whether Chinese are getting rid off their treasury holdings or for some other "reason", doesn´t matter to me. Fact is, yields are rising. If FED is going to intervene via quantitative easing, they shall start at some point... My reading is : asset reallocation. Investors selling bonds and where are they going to invest free cash flow ? Maybe 828.75 target, maybe 849.00..don´t know...let´s see..
from a technical point of view,we should know our fate within the first hour of open.sat right at the range lows here on the neckline of an hourly head and shoulders targeting the 760's on the spx cash