We're closely watching the US10Y as it seems to dictate where the market goes. As we can see from the chart, the 10 YR is still trading inside the large down-channel, but was trending support line before breaking below 1.45 (major support) and quickly went all the way down to .36 before attempting to recover. The recovery has been weak so far as it was unable to retrace back to that 1.45 resistance line (peaked around 1.28) and is now aggressively turning back down. With everything going on in the bond/credit markets, there is a possibility we see the US10Y at or below zero. Keep this one on your radar as things could escalate quickly and as always...