Wow, LL now down 15% on the week.  No position, but waiting for a counter-trend rally to short it.

"Have we not met somewhere before?" -- Nick Rivers, Top Secret

Similar to the head and shoulders neckline of death that was seen in $HUI, $XAU and GDX, we now see the weakest recovery sector (commercial real estate), it is now entering the broad definition of a bear market (down on the year, 20% off the highs (almost)) and is clearly not loving any sort of taper action.  When I posted that GDX head and shoulders I was thought to be mistaken.... all the money printing would make GDX go to the moon.  Well, QE means low interest rates forever, right? Note bearish weekly MACD crossover and impulsive nature of down moves.  

Same deal here -- doesn't like the bond action presumeably.  After a two year non-stop run in these stocks, I think they have a considerable way to fall.

While the HD breakout (gapping over resitance to new all time highs) has failed to sustain, it looks more like a bearish fakeout.  Speaking of bearish, LL is indeed getting liquidated today and looks like a ridiculous bull run might be in jeopardy.  Thoughts on initiating other (swing) short positions in the sector?

AAii came out to show a drastic decrease in bullish sentiment.  While I already see many bulls misinterpreting this info (their claim is that because sentiment is not as high as it was weeks ago, that we will go higher).  This is historically not true -- most intermediate term tops are made after sentiment drops considerably (At least for aaii data).  Strong bullish sentiment represents the middle of a bull run.  Anyway, price is most important (just nothing another indicator that is showing this bull run is close to an end).

Maybe we are in a trading range in the SP between 750 and 1550 (with an overshoot low in 2009 of 13% and an overshoot high of 13ish% in 2013).  There is much symmetry in each bull run (expecially the last one).

Some serious volume coming in as GDXJ is sold off into all-time lows.  Lower lows look likely IMO.

The interesting thing might be how much control the Fed actually has over the bond market: ie. if $85 billion/month is enough?  The answer in the last six months is a resounding no.  Perhaps the Fed's narrative is dictated by the market and not the other way around.  Just food for thought.

haha Hilsenrath had a 1000+ word analysis up on WSJ within 5 minutes.  

Don't know if this is possible or not.  Seems that the Fed is trying its hardest to jawbone rates, but day's like today make a breakout more likely.  Can't imagine an increase in yields from 2.6% to nearly 5% as a good thing for anybody (despite what an economist might tell you).

Watching to see if they can consolidate just above the breakout level to all time highs.  Today, they are both selling off and losing the breakout.  Still monitoring for now.

I'm sure this is on Yellen's and Bernanke's radar.  Also on Yellen's radar.... interest rate sensitive businesses.  In a runaway bull market, IYR down 3% YTD and ITB up only 6%.

Wouldn't this cause a run on the banks?  Don't know too much about it, but why would anybody choose to have their money confiscated by a bank?  Seems to be a good reason to justify bitcoin.

HD making a solid pre-market gap up breakout after many months of sideways action.  Look for a re-test of $80.80?

FXI up over 10% in a few days.  Outlier event -- haven't registered this far outside upper bb since 2009 mega-rally.  

wow, bet there are plenty of Johnny Come Lately's holding TSLA, SCTY and FB and wondering what is going on?

Haha, I guess this means by contrarian logic, there is no bubble.

Amazing.  Who knows when they top out (not sure if joining lines across tops really says anything).  But this has been one strong bull!

XOM -- some resistance, but clear sailing above $95.