The rhetoric, the hype, the hope, the lessons, etc. create a lot of noise and confusion. Although technical analysis is an important arrow in the quiver, it's easy to get lost in the forest full of moving average, island reversal and 3rd wave trees. Stop listening to the noise for a few quiet moments. Float above the landscape and have a simplistic look below. Bond market spreads are at or near record levels.
Liquidity is clearly a problem in many parts of the bond market.
The record trade deficit has the potential to create a very unstable US dollar on a moment's notice. The Fed is in tightening mode. Technology stock fundamentals and valuations have problems. Wall Street and Main Street are now one street. Public expectations are still too high.