Our yield curve model has finally sounded the alarm.
continued for members…
Although the 10Y has dropped,
… the 2Y is dropping faster. 
This puts the 2s10s back above any nearby resistance, meaning equities should sell off by a significant amount. Note that this doesn’t mean a huge, sudden downdraft. But, it would take some heavy lifting by currrencies, VIX, etc in order to prevent it. Right now, that assistance isn’t anywhere to be found.
ES caught a bid at its SMA200, but it’s a very tenuous bounce.
SPY is also at risk of breaking down.
I’ll post more after a conference call I’ve got coming up.