With over $2 trillion in equity options expiring today, is it any wonder that in the past hour the futures market went from this…

…to this? continued for members…

The latest as we go to press…It shouldn’t really change the big picture… …as VX has yet to break down… …though VIX already has and could easily make lower lows.Currencies have been heavily employed to keep the market from melting down, with USDJPY topping 150 yesterday despite Japan’s inflation topping 3% and a lot of (so far) empty threats about supporting the yen.

The euro continues to look abysmal but is making an effort to look less so. GC made a lower low… …while SI is trying to bounce. Bitcoin is still comatose.CL and RB have both seen their SMA10s roll over, with bearish 10/20 crosses in the offing if they can’t rally big in the next 2 sessions.

And, the market needs a pullback, as TNX has reached our next upside target. If it can’t hold here at 42.64-43.69, the next resistance isn’t until 47.55.

continuing…