The LIBOR rate has been spiking all month. There was a ZH article on the massive short-term borrowing by the Treasury causing the spike. If the spike continues, it may be a sign of stress. The same article has a chart on Treasury supply which will turn negative soon, usually a positive for the stock market.
If the market follows the 1987 script, the low would probably approach the 2016 base low. That crash retraced almost all of the games since September 1985 when US, Japan, and Germany agreed to coordinate interest rate and currency policy. January 2016 brought on the negative deposit rates in Europe and Japan as well as other central bank policies. Analogies almost always fail after everyone sees it. If you're following the Powell/Greenspan analogy for 2018 versus 1987, today would be October 3, 1987.
Edited by Data, 02 April 2018 - 11:36 AM.