And completely ignore any Russian rumors. They are circulating those and have been denied.

Be wary of OPEC production cut rumors: there are two groups demanding OPEC action -- members & non-members. OPEC so far has put off members on any special meeting. They have been making noises recently, though, on talks with non-member states and have been willing to consider cuts. BUT, they're talking about cuts across all oil-producing nations in equal measures. It's a way of saying yes & no at the same time, as they appear open but know there will be no universal agreement.

30 year yield is where 'experts' predicted the 10 year would be by now.

Absolutely. Just about everyone should have a 'no trade list'

Russell playing nicely this morning.

Cool. Glad you made that call, Steve.

I know a guy who traded just Intel for pennies for a decade and then Apple. Huge share size, very good at it.

Did not know that 03-07 history. How did you & Steve team up?

Thanks, Matt.

I would sell a flash-crash up like we saw in 10/14. Also, we're getting back to all-time high levels here & that could well give a 4th wave. Personally, I've been long so long for macro & technical reasons (just trading around a core position) that there's no way I'm going to short it; but I may go flat on a liquidity event and wait for the next buy set-up.

Weekly

The more these rallies get whacked, the higher the risk of a bigger flush out. Not sure why counter-trend is attractive in these conditions.

Operation Twist rumors yesterday just let more longs out higher.

TLT fakedown. Still no daily RSI/MACD divergence. In the current environment, trying to short this could become like trying to be long gold miners last year.

If there's a breakdown from this coiling in the Russell, I want to see 950 (round #) broken & backtested with continuation. There will be players who defend and risk of fake out is high.

TLT doesn't have any RSI divergence on the daily. I can see booking profits on part of a core bond position, but don't like the macro environment for shorting them other than in conjunction with vix falling & equities rising meaningfully.

This morning's move was the mirror of yesterday's new low in the Russell by 8 ticks. The majors are on the brink & a third test of the TF low could be a trap door. Bulls need to defend right here and not lose 953.

Pathetic squeeze. They took the Russell just 9 ticks above yesterday's high, which knocked out tight trailers and gave another selling point to the distributors.

Now some divergence in internals on Russell, as well as in momentum indicators.

Yelpersgot another brief moment to get out with an early earnings release.

No divergence in ticks or breadth yet. Steady selling pressure.