As predicted (and dreaded), the system was stopped out yesterday. The system is currently in cash. The most recent turn or acceleration window expected by mid-week showed up on schedule yesterday too. The next turn or acceleration risk window at this point appears to be next Friday May 6th.
Watch the US dollar which appears to be about to break the neckline of a multi-year double top pattern which could send it sharply lower. The FED inaction is further trashing an already fairly worthless piece of paper. At some point the weaker currency should feed into price inflation which might finally put a stake in the heart of the bond market vampire which has been alive seemingly forever. Also watch the emerging markets, cause if the dollar does break, EM should fly.
Regards,
Douglas