Secret Signs Across Many Markets

As a quick update to yesterday's blog post, Russia is bouncing back from the apparent breakdown. As I noted, it is going to be key to see if crude oil and Russia sport "bear traps," or false breakdowns. On the updated RSX daily chart, below, the country ETF, note Russia initially failing to hold under the key $15 level. If bulls can hold these gains into the bell we could easily see a bear trap sprung for a further rally. As for equities as a whole, we are seeing some year-end profit-taking, it appears, with some weakness this afternoon. TWTR has the look for being an actionable short as it looks to be rolling over, for example.