Wednesday, June 1, 2016

The Status Quo Is 3x Leveraged To OPEC

Shorts covered ahead of the OPEC circle jerk, because really what could go wrong?

JPY was strong overnight versus USD and Chinese Yuan, indicating RISK OFF at the U.S. open. I mean buying opportunity...

3x leveraged speculators have been throwing money away for four months straight in anticipation of this non-event:

WTI crude with 3x leveraged ETF volume (UWTI):

Retail ex-Amazon imploded due to Nike and Under Armour. Amazon reversed into the close. 

Auto sales for May tanked, hammering automakers

Big Cap Tech lagged notably

Skynet pulled out all stops to manage a green close

Dividend/recession stocks re-tagged their overthrow high:

Small caps led

Europe rolled over again at resistance

Brewers went late stage parabolic

Much ado about collapse