martis the bear and caylus the short - tuesday, page-15

A classic text book island reversal on RUT cash complete with gap down on open (only 0.22 of a point but a gap is a gap is a gap) and large range in down retracing a bit over 80% of the prior week's advance to the low of the session.

NDX futures 2hr and I have to say, it looks more likely than not that this has more work to do on the downside with the follow through to the reversal candle off the high. The high took out 3500 on cash and futures and the daily NDX has a bearish engulfing candle with the low finishing 0.16 of a point below last Fridays open.

The indices have shown weakness as the yeild on the 10 yr ha s climbed to 2.8%, a level "they" say trader get nervous with risk on.