The US 10 year yield is now at a crucial level. Not only is 2% a significant psychological number, it is a key resistance level. The shooting star candle formation at the Yearly R1 pivot level shows bulls dominated most of last week but were not able to hold the gains. In the lower panel we are quite stretched in terms of upward momentum. The last 4 times the market got close to the 120 level it experienced a pullback. We are also close to triggering a Demark 9 sell setup, which could triggered at the end of this coming week.