30 minute bars on the S&P 500 (ES) futures nicely show how momentum has steadily faded over the past 5 days. Looks poised for a plunge. End of month Treasury supply could turn the trick.
Watch the 10 year yield. It will tell whether supply pressure matters as the Treasury begins cutting back on T-bill paydowns. Janet is giving the market $25 billion today, but after this, that help should dry up. Things could get ugly.
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