Hitting the YR2 in almost a straight line this early in the year is unprecedented. It tells me 2 things. The market is now at an extreme reading. The 1,000-point high-low move in 2 weeks for this market is an outlier. The daily altimeter says the market is in ear-popping territory. The weekly is OB, and the daily is grossly OB. It all points to the fact it is time for a reversal.