Jim Willie: A Move Above 3.0% On The 10-Year Would Pop The Stock Market Bubble

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by Jim Willie of Golden Jackass
The Jackass adds a few points, first on the technical chart and then on the pessimistic viewpoint toward the vile banker sector.

The above is a severely dangerous looking chart, with a Head & Shoulders reversal pattern evident, and an upward bias in addition. The recent move above 2.60% could continue and push the USTreasury 10-year yield (TNX) above the 3.0% level. That would cause severe problems, and issue loud dire signals. It would pop and pinprick the S&P500 stock index and the Dow Jones Industrial Average.
The H&S reversal target is in the neighborhood of 4.0% incredibly, as the great unwind is near, for both stocks and bonds. The fundamentals ride directly beside the dire technicals. The USGovt deficits are rising fast, better described as exploding upwards. The trade gap is rising also to truly dangerous levels. The USGovt stands at risk of shutdown over the debt ceiling issue. Foreign governments are moving away from the USDollar in bank reserves AND in trade payment. The USGovt continues in its sanctions, enforced via SWIFT channels.
Wall Street craves a major pullback to capture big short leveraged positions on the short side, while damaging the US households, as they emit laughter in smoke filled rooms. They are the experts in putting in place leveraged futures short positions for the S&P500. Refer to Robert Rubin in 2000, when he resigned early from his Secretary Treasury post, in order to short the US Stock market. He made $billions, and could not resist the temptation to leave the USGovt post early in order to resume his post at Citigroup trading desks.
Much food for thought on USFed actions, combined with hidden ESFund machinations. In no way can they clear up six years of QE with tons of hidden actions, in the biggest QE extravaganza of monetary abuse in modern history. For them to add stocks and crude oil to their list was insane, deadly, and reckless, with huge consequences eventually.
The time is like right now!

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