Of banks, bonds, equities and things; and the contra-contra-trend moves this week

Okay, we rallied well today - maybe it's Ray Merriman's planetary influences, or the 1075 support Bill Luby of VIXandMore tweeted about on Friday afternoon. And let's not overlook Andre Gratian's 9-month cycle low. We've been expecting a bounce so we'll see if we get the 2-3 day bounce we've wanted, and whether it can get to around 1100, 1110 or 1120-ish. Based on Fibonacci retraces of .382, .50 and .618 back to 1150, as well as the 89-hour ema, 34-day ema and 50-day ma, or even the Bollinger Band midline. If we're right, then this bounce becomes a nice rally for another bounce of selling into lower levels into March.

Banks - can you believe how close the $BKX is to its rally highs?! At this point I could hardly be surprised if the did poke to new highs, like $50 in the $BKX. Well, surprised on one level. We'll just see where it gets by, say, Wednesday.

Bonds - there were twitters about HYG and maybe LQD dropping along with interest payments. My charts below include monthly LQD and daily TLT. I think LQD hit symmetry target resistance, and bonds generally can weaken. Ultimately with Treasury bond rates spiking to higher highs.

The VIX interestingly was dropping a few days, moved up Friday, and down again today. Maybe it spiked "too high" after it moved so low into VIX futures expiration. Anyway, there's support not far below for the VIX, which goes along with our thesis of the equities rally here. An interesting move to open the week - if you're taking our approach of remaining aware of price AND time, you should still be enjoying the moves. Catching each turn can be dicey sometimes, but being there for good moves from one turn to the next can be where you make the most with swings, then be flexible as we negotiate along. Or if you're taking a slower approach, in cash or short from 1130/1150, enjoy with us the tracking of where the market turns next to roll over again!