G20 Bail In For All, Equity Buy Pressure Remains

As the G20 formalizes bail-in rules for systemically important financial institutions which allow for legalized theft on a global scale, the rest of the world chugs along gleefully unconcerned.

If you have money with Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley, State Street, or Wells Fargo, in the event of another financial crisis, your money will be used to help bail out (bail in) the banks instead of taxpayer money.

That your money is also taxpayer money apparently doesn't matter. It just sounds better, and allows a non-elected group of white collar thugs to effect the largest heist ever -- in plain sight -- fully sanctioned by "heads of state" and "Government of the Group of Twenty" (another non-elected group).

Futures hit a new high last night and have come off as much as 8.5 points. WTI and Brent crude are down again, with the latter remaining below $80 per barrel.

I still think more time is needed for several markets: yen, EUR, AUS, Nat Gas, oil, gold, DXY, and S&P but my bias in each remains the same.

Until 2001.01 breaks, the pressure is to the upside in the S&P though I would love a decline into the 2015 area.