Despite the overnight global selloff, the morning dip got bought on news of a terrorist attack on Britain's Parliament, news that Trump's campaign manager worked for Putin, news that Trump's healthcare plan is coming undone, news that Sears is going out of business imminently, and news that U.S. Oil inventories reached a new record high, doubling analyst expectations. In other words, the noose keeps getting tighter, compliments of non-stop obfuscating bullshit spewed by the largest assembly of con men in human history without any remote comparison. But as long as Snapchat doesn't roll over again, this will all be fine, since it's now leading the entire market.
The fate of the market is in the hands of the Gong Show:
ZH: Algos Gone Wild Ahead Of Healthcare Vote
Repeal and Implode: The Old age home hasn't seen this movie before.
Speaking of tightening the noose, the 2008-redux drop in banks was bought with both hands, as the Rydex asset allocation to banks reached a new record:
Beauty is in the eye of the bagholder...
Also overnight, Yen carry convincingly broke support:
No surprise, Retail stocks are getting pole axed on the Sears news, including, but not limited to...
Macys
Nordstrom
Rite Aid
JC Penney
A few select financials...
Ameritrade. Or Not...
Ben Franklin aka. trusted "Financial Advisors"
Selling intensity
YieldPlosion
Flight to safety...
Junk stocks
VIX with volume via 2x Volatility ETF (UVXY):
Speaking of Gong Show, Chuck Barris just died, ringing the gong one last time on this epic clusterfuck - The one being bought right now with both hands by stunned dunces conned by serial psychopaths...
