The jobs report is obviously out, and markets are reacting swiftly. The US dollar is soaring, the Euro is swooning (as are precious metals) are bonds – – like I predicted earlier this week, to the hoots and catcalls of a few – – are plunging.

My interest, however, is in equities, and as delighted as I am at the sea of red in front of me (for now, at least!) I recognize the real challenge is breaking the ()*#%)(*^&# midline that I’ve drawn on the channel below. It’s a tough nut to crack, but crack it we must if we want any serious bear profits.