Global Momentum Is To The Downside

Every country. Every risk asset class. Is rolling over. U.S. stocks making new highs today: 54. New lows 164. The only U.S. index to make a new high: the Nasdaq 100, which has now reversed back below the prior high set in July (see below). Emerging Markets, commodities, commodity stocks and retail stocks are leading the way down...

In other words, the brick wall stands:

Tech moonshots: Amazon, Google, Facebook, Microsoft et. al...
The top performing U.S. index w/% of stocks above 200 dma

Mind the gap 'n Crap:

Semiconductors never came along for the headfake...

"sumamabitch! I knew we forgot something..."