Closing changes for the main North American indexes
I think the chart to watch is the Russell 2000. It’s been consolidating since late January and this is the worst weekly close in the index since then. The intraday lows narrowly below here are probably what matters though. If those crack, we could be in for a

CFTC positioning data
One of the big theories on the drop in Treasury yields in the past month or so is that it was a big squeeze on shorts.
If so, it might be over.

Keep on knocking and they’ll eventually let you in
Cable is down 63 pips to the low of the session at $1.3765. That’s the worst level of the week and it will leave GBP/USD just above the cluster of lows that stretches down to 1.3731.

Looks like we
Barring an incredible turnaround, it looks like we’re going to close on the lows of the week in US equities.
The S&P 500 is down 26 points to 4334.