Business

1000 points of Dow swings, VIX manipulations, and desperate talking heads, and still red...

On the day, Nasdaq was red, S&P unch, Small Caps green...

Earlier we showed why, one day after JPM said that "the regime of buying the dips might be over and selling any rallies might be the new one", another major bank, this time Citigroup, said that after six years of outperformance, "fading EPS momentum and rising Fed funds mean that... we cut the US to Underweight."

Everyone knows the world's foremost Wall Street meteorologist, and sometime Deutsche Bank economist, Joe LaVorgna.

For those who are unfamiliar, Joe is the person who in 2014 blamed every. single. negative. data point on the weather.

Joe is also the economist who famously lost a forecasting face-off with Groundhog Phil.

But most notably, Joe is Wall Street's biggest permabull.

Or was.

Submitted by Lance Roberts via RealInvestmentAdvice.com,

In the last “Technical Update” I discussed the outlook for 2016 (you can also get the full version here) and the risks that lay ahead as we approach the end of the first half of the full market cycle.

On Monday, the Riksbank said it would “instantly intervene” in the FX market in the event ongoing krona strength ends up imperiling Sweden’s inflation target.