The 1929 Analog Is In Play aka. "Surprise" crash from all time high
As it was in 1929, the first/last/only dip, got bought:
Looking back on it, the Chinese Yuan devaluation will be seen as this era's Lehman Moment...
Though right now considered a singular uncorrelated "Black Swan" event, the circumstances and pressures leading up to China's currency capitulation had been setting up years prior in broad daylight. The event was largely ignored due to conditioned market complacency arising from six years of non-stop Central Bank "liquidity" support. Now inconveniently culminating in the major central banks being ALL IN.
The momentum feedback collapse in Global macro forced the Yuan devaluation: