For anyone who wasn't too busy playing fake-believe, this was the most significant week for global financial risk since October 2008. And of course it was all bought with both hands...
Record Global Deflation collapsed global interest rates to new 500 year lows
The Fed capitulated and basically admitted that rate hikes are off the table indefinitely
Global stocks ex-U.S. imploded with German DAX and Japanese Nikkei testing their 200 week moving average
Global Financials were monkey hammered across the board. U.S. Financials broke their 200 day moving average
European and Japanese banks broke to new all time lows
USDJPY broke its 200 week moving average for the first time since 2007
China devalued the Yuan to the lowest level in five years
Bitcoin exploded to a two year high on massive volume
U.S. stock volume and volatility exploded, amid record volatility short interest
Oil rolled over hard, breaking its rising wedge in place since February 11th
Small Caps and Consumer staples rolled over in synch deja vu of 2008
Global Dow entered 3rd wave down at all degrees of trend
Nasdaq "FANG" stocks rolled over as Microsoft's acquisition of LinkedIn signalled a top in internet over-valuations
The Nasdaq resumed Third wave down, breaking the 200 dma
Transports broke their 200 dma
Mega cap stocks were weak across the board
"Dumb beta"/low volatility stocks rolled over, backtested and rolled over again
The U.S. Liecovery is over...
Global Risk Off
USDJPY
Deflation with Oil:
3x leveraged oil
Nikkei with JGB yields
European Stocks
German Dax with 200 week moving average
Bitcoin with China Yuan:
Aussie / JPY
Nasdaq 3rd wave
U.S. Financials
Asset Managers
Small caps with Consumer staples
Goldman Sachs
Transports
Deutsche Bank
Dumb Beta
More dumb beta
Mega Caps
Amazon
Volatility
Chart of the week:
"Surprise Ponzi Schemers, you're done"
S&P Gaps with World ex-U.S.:
