Today's rally was compliments of USDJPY short-covering, taking back Friday's losses...
Can you see it? Get your microscope checked...
Speaking of USDJPY, the Nikkei had a small gain overnight which put a floor under the S&P futures - right back to the 50 day...
In other words, we've seen this movie before, a few times:
Rates
Financials
We've seen this movie before as well:
Since the 2340 Maginot Line broke, the new Maginot Line is 2330, which should hold for a few hours...
But the real action is in oil which is pending an island reversal of fortune...
Europe has been leading the global rally for ~8 months now, which means crash is inevitable if not imminent
S&P / Stoxx600 ratio
Lastly:
ZH: Adam Sandler Is Killing the Economy
"Netflix members have spent more than half a billion hours enjoying Adam Sandler films"
Netflix misses, and guides lower...
