The third one is when the wheels come off the bus...and faking it non-stop for seven years straight turns out to be a bad fucking idea. Yes, again...
Realized S&P 500 volatility:
This third and last volatility cycle in 12 months features a manic blow-off top in U.S. large cap stocks, unconfirmed by every other asset class on the planet. Leading to a decline in every risk asset class at the exact same time...
The former leaders are rolling over hard:
The small cap rally is over
Equal weight / cap weight:
Breadth is collapsing...
A bounce in oil led today's feeble rally, Tech and Yield were in the red all day...
The cyclical rally is over
Retail:
Transports
JPY is testing multi-year lows as Japan's latest stimulus plan implodes...
Deutsche Bank new low:
Big cap tech weak across the board
Amazon:
The entire oil-related risk complex is rolling over
Junk bonds, Energy stocks, Emerging Markets:
