This entire farce is hanging by a handful of overowned, overbought, and overvalued big cap tech companies. Four to be exact: Amazon, Netflix, Microsoft and Apple. There is no sign of fear, anxiety, or concern. Just another opportunity to buy Amazon...
Bueller?
First, the rest of the world is already in position for mega crash:
Within the U.S. as I showed earlier, the cyclical reflation trade is going straight down 2014:
The last part of the fake reflation trade to roll over were banks, which broke the 50 day today. Deja vu of early 2016:
U.S. Large caps are rolling over hard:
Even Amazon is rolling over
The iPhoney era is ending.
Any questions?
