Uptrending ABCDs in every time frame are driving rates on the 10-Year Note inexorably toward the 5.30% target shown.  The run-up could accelerate, since Bessert’s abortive experiment last week with quantitative easing laid bare the futility of trying to suppress rates in an environment where private credit is rampant and government debt is at $40 trillion and rising. Gold doesn’t like higher rates, but in this case, bullion is reacting more to the gathering crisis than to monetary conditions.

Yields and gasoline prices are not going to let up before November, and that is why we are about to experience a regime change. The greedy scumwads who control the markets have been quietly distributing as much stock as they can to widows and pensioners before the jig is up. With help from their ignorant shills at all of the major news media outlets, they even managed to short-squeeze the S&Ps and the Dow to new all-time highs in the face of a perfect storm of bear market hazards. That is what bull traps are all about, and why you should shun the party. (See my chat room post about TLT, a solid, dividend-paying alternative that is close to bottoming.)