The anxious class feels vulnerable to forces over which they have no control. Terrible things happen for no reason. Yet government can't be counted on to protect them. Safety nets are full of holes. Most people who lose their jobs don't even qualify for unemployment insurance. Government won't protect their jobs from being outsourced to Asia or being taken by a worker here illegally.
Today...
The Yellen effect pic.twitter.com/ogQgxINN2r
— Morris Cabrioli (@insidegame) December 14, 2015
Today's focus was on credit markets - rightly - as the contagion spread to IG markets...
But it started when China devalued the Yuan yet again...for the 6th day in a row - and in growing size - PBOC fixed the Yuan weaker to its weakest since July 2011
"Yeah but it's junk credit... who cares! I am invested in solid megacaps and even solider FANGs - what can go wrong?"
Via NorthmanTrader.com,
In yesterday’s (Dec 12) technical charts I outlined some key follow up charts. If you haven’t seen them I highly encourage you to check them out as the context is important. As outlined 75% $NYSE stocks are now below the 200MA. After reviewing dozens of charts this weekend one message permeates the landscape: Markets need new highs or else.
The media censorship is correlated with specific sources of commercial advertising income, which is over-riding the Western public interest in knowing what is really going on in Yemen and how their governments are involved in violations of international law, including state-sponsored terrorism.