Bye-Bye Breakouts, Money Printer Broken

Looks like the money printer has run out of steam for the stock market. Will be watching for miners that outperform during the pullback.

If this turns into a serious downturn for the markets, banks, small caps, FAANGs and select emerging markets should be good short candidates.

HSBC broke support and there's pretty much nothing left. I drew a green horizontal because I'm paranoid after 2 years of constant interventioned by central banks. But there's no meaningful support left.

The second chart is the 10-year yield. A small head and shoulders pattern, but if it completes, the target is a new all-time closing low for the 10-year yield. Banks will be hammered. Full disclosure: I have puts on KRE.