Europe is getting smoked this morning.
Yesterday was a disastrous intraday reversal on meh volume.
And the charts below indicate that Petula Clark will be singing tonight.
That’s not good.
![](https://i0.wp.com/johngaltfla.com/wp-content/uploads/2023/03/032423_US2_10SspreadJGFLA.jpg?resize=800%2C611&ssl=1)
That’s worse.
A quick addition to my note:
If 3900 does not hold on the S&P 500 today and we crash below that level with volume, all bets are off. A lot of traders will begin their two week Easter & Passover vacations starting today and do not want to be long. With a weak month end hitting next week and anyone else of relevance leaving for just a week of vacation, liquidity to support the markets may well dry up rapidly; especially if anyone gets a whiff of rental cars and FDIC boys and girls at any of the regional banks after lunch.
We might have an all day deathburger on the menu.
![](https://i0.wp.com/johngaltfla.com/wp-content/uploads/2020/03/DEATHBURGER_2015_jgfla-202x300-1.jpg?resize=202%2C300&ssl=1)
See you guys and gals tonight as it could be FDIC Friday again too.
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