Breakout or Trap

This is crunch time.  The run at the upside breakout in stocks is in play but volume is not helping out.

The problem is that the Bond market is taking over.  It would appear that the FED is fighting back by orchestrating two raids on the dollar, one on April 13th, and the current one which started yesterday.

The Central Banks, with the current leader being Draghi, will keep this up until they have no option other than capitulation.

We remain in defensive posture.

The Three Horseman backed off yesterday, but are taking a run at new highs on the back of Goldman Sachs this morning.

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