Those people who are betting the U.S. is "winning" a trade war with China, are about to get wiped off the map...
We are witnessing a waterfall crash in broad daylight:
The amount of hubris from Herbert Hoover and his gang of dunces, is beyond asinine:
Kudlow:
“The U.S. economy is very strong. The rest of the world is not. We’re the engine that makes it go. Frankly, I see no signs,” he said, when asked about the prospect of a global recession."
We are witnessing a waterfall crash in broad daylight:
The amount of hubris from Herbert Hoover and his gang of dunces, is beyond asinine:
Kudlow:
“The U.S. economy is very strong. The rest of the world is not. We’re the engine that makes it go. Frankly, I see no signs,” he said, when asked about the prospect of a global recession."
“You don’t need to do a lot of mental gymnastics to get to the Fed having to cut 200 basis points to put off a recession.”
"My election strategy is working"
The S&P lost ~200 points in the past four days, roughly -7% in a straight line. Now it's deeply oversold and staging a comeback. When this fails, look out below...
Below we see the S&P ETF. Volume has been much heavier than May (middle pane) and yet selling intensity has been moderate (lower pane). The BTFD team has been active. The 200 day is key support:
The largest crashes occur when the market is already oversold and can't find support
Low volatility defensive stocks are between key support levels:
Likewise Tech is in no man's land.
These two key sectors (defensives and Tech) must find support for the larger indexes to rally. If they keep falling, they will push the S&P below the 200 day last line of support.
The rest of the world is already below the May level:
No surprise, Chinese stocks are threatening to break the 2018/2019 lows:
“The pattern in US stock market sentiment has come to even more closely resemble the picture of sentiment on the eve of the 2008 Lehman Brothers collapse that marked the onset of the global financial crisis.”
Past performance is no indication of future results:
