Friday, February 16, 2018

Third Wave Down: Make Implosion Great Again

Third wave down will make last week seem like a happy picnic. Picture every risk asset class imploding at the exact same time...

Therefore, it portends badly for U.S. gamblers that Monday is a holiday to celebrate the last Emperor, Forrest Trump...

Any questions?



Most of Asia is closed next week, but Europe will be open.

The market most reponsible for overnight S&P futures selloffs had been lagging in this retracement, but playing catch-up today:



The S&P just tagged .618, so wave 3 down can begin any time...



Big cap tech is stalled at the prior peak


Along with Tech, regional banks have been leading the U.S. rally, diverging from $USDJPY.

Deja vu of February last year:



Be that as it may, it's not 2017 in Kansas anymore...