Nasdaq 100 with Cash Balances (red):
Today, gold/silver, Emerging Markets, Biotech and Oil got whacked. FANG is weak, and yield is rolling over...
We learned today via ZeroHedge that combined inventories of U.S. oil and gasoline are at all time record highs.
As I showed last week, commitment of futures to the long side has never been higher as well:
Oil gamblers are ALL IN on record inventories...
Silver got shellacked. That recurring fantasy is over...
Biotech hammered -4% on the daily, this is the weekly view:
The Emerging Markets corrective bounce is over...
Yield is rolling over, VIX is rising:
JnJ
FANG (Facebook, Amazon, Netflix, Google), played out:
JPY is clinging to the 100 level. All eyes on the Fed Jackson Hole circle jerk on Friday:
