And So It Begins.

BOTTOM LINE: Most asset markets have likely peaked. Bounces should be SOLD. Range breakdowns should be SOLD. Range breakouts are most likely to be false breaks, and should be SOLD. Sell everything and buy US Dollars.

Below is a daily chart of US Financials. This index looks really, really tired. Remember, this is now the second biggest sector in the US, with 14.9% of market capitalization. The first is IT, with 18.9%, Energy and Healthcare are both around 12.5%.

This is an hourly chart of SP500 futures. A bounce from here would be a gift to the bears, and should be SOLD. Chances of re-test or take-out of the highs are very slim, but should that happen, the market should be SOLD.