Ponzi World (Over 3 Billion NOT Served)

The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Monday, April 4, 2016

A Bit of the Old Ground and Pound

Oil closed at a one month low today, so far stocks are largely ignoring that fact...

JPY is ready to join the ground and pound, any night now...

Why selloff during the day when you can gap down overnight?

As expected, oil is getting shellacked as it approaches the ETF rollover window April 6th to 11th. Generally the futures market reacquaints itself with the Cushing spot market sometime between the end of the ETF rollover window and futures expiration (20th)...

USO

WTI

The one month spread closed a bit today, but still indicating at least -4% of rollover downside for the ETF...

Breadth momentum is picking up to the downside
NYSE McClellan Oscillator

The world's largest stock just joined the Third Wave down party with a key reversal at the 200 dma today. We watched this movie last Fall...