Treasury yields hovering near one-month lows indicates the recovery in the FTSE100 and other risk assets is likely to be a dead cat bounce. The daily RSI on the FTSE 100 chart shows a bearish breakdown from the channel formation. Furthermore, we see a potential head and shoulder with neckline around 7260 levels. A weak close today would establish a falling tops formation. Overall, the index appears on track to take out the rising trend line support in favor of the neckline support seen around 7260 levels.