There have been three limit down crashes in the S&P 500 overnight futures in the past year and a half. Which were a preview of what is to come aka. "buying opportunity"...
These limit down events were all caused by the USDJPY going RISK OFF, as indicated below:
And USDJPY happens to be tracking 1:1 with U.S. banks compliments of the fake "reflation" trade which will have the shelf life of a rotten banana:
The biggest drops in USDJPY take place AFTER the fake reflation trade unwinds, because that's when the banks all fall apart...
And the riskiest bank is in Germany aka. 2am:
Bonus chart:
Double bonus: