1929: End of the Cycle. No Ammo...

Shorts are covering ahead of the ECB, and on news that the economy is imploding. Today the services PMI joined the Manufacturing PMI and the jobs report, missing expectations by a mile...

Economists don't understand the financial cycle. They assume that overinvestment, misallocation of capital, and speculation will continue forever while everyone waits for the economy to float back from China. To be sure, Central Bank psychopaths have extended this zombified clusterfuck far beyond its unnatural life, however that will just make the final implosion all the more spectacular...

"666 global interest rate cuts and untold trillions in stimulus couldn't put the Globalized exploitation scheme together again..."

Wave 2 is short-covering ahead of final implosion. When everything collapses at the same time, after eight years of non-stop bullshit, because "no one saw it coming..." 

This is the NYSE Composite wave count...

Confirmed by Brewers:

Airlines:

Pharma

Retail

Semiconductors

Financials

Faux News

JnJ

Lockheed Martin

Corporate profits, Inventories, Manufacturing, GDP ex-Deficit, and

Labor Market Conditions:

Money OutFlow

Rest of the World