11:41 am EDT:  The 30 Year yield has now broken below its consolidating wedge as shown below, and a close below would confirm bond strength and weigh on equities short term.   Also, while the Euro remains relatively strong against the US Dollar, it has dropped precipitously against the Swiss Franc as the SNB issued some hawkish statements early this morning.  The decline started yesterday, however, and could be indicative of capital flight from the Euro to the Franc, which has been concurrent with short term equities weakness in the last month.  Accordingly, we would expect to see 1108-09 act as resistance if the ES is to head lower.  If it accepts above, the early weakness would seem to be just a shakeout.