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...

Chinese Yuan

Oil (ETF)


Deutsche Lehman