Friday, October 14, 2016
The Sum Of All Clusterfucks
China returned from Golden Week and resumed devaluing the currency at the fastest rate since January
UK Prime Minister Theresa May announced the Article 50 Brexit date (March 2017), GBP tanked to a new 30+ year low
The oil rally ended on news that OPEC production is the highest in eight years and U.S. inventories rose the most in six months
Deutsche Bank rolled over on news that there is no deal with the U.S. DOJ and no pending bailout
Saudi Arabian bank stocks got obliterated due to government restrictions on defaults for public sector employees due to recent pay cut
Let's take a look...
The S&Ps 2120 Brexit breakout level held this week, but the uptrend line in place since February was broken...
Internet stocks (Facebook et. al) finally rolled over
GBP and UK stocks fell in unison
Two big overnight gaps this week compliments of China
World ex-U.S. rolled over hard
IPOs monkey hammered
Yield waited for everything else to catch down...
Posted by Mac10 at 2:56 PM