01.11 Oh No Not Again Market DEATBURGER Watch: Paging Janet Yellen, Economy Crapping out on Line 3

by John Galt
January 10, 2016 18:50 ET


So it’s Sunday night once again. My DFS teams all went to hell in a hand basket yesterday because players with concussions, blown up knees and ankles, and torn groin muscles could not gut it out.

I mean seriously J.J. Watt, couldn’t you tough it out, you won’t need your nuts until your career is over anyways.

But I digress.

The U.S. Futures had a warning sign before they opened at 18:00 ET and that was simple, to to point and a stark, dark, problem which needs a miracle overnight to reverse; this chart via NetDania indicated that the USD/JPY (Yen) had broken the key 117 level in the 4 o’clock hour this afternoon.


That is not only bad, but it is crossing the beams bad, as the Ghostbusters would say:


The end results so far tonight because the Yellen crossed her stream with the Abe? Yeah, Australia opens down 1.5%, US futures tank, and oil, just wow, oil (charts courtesy of Finviz and YahooFinance):

Ouch. Of course the PPT could show up so standby there. However, I don’t think old Ahab the Arab is going to save WTI Crude tonight:

Meanwhile, in the lands down under, Australia and New Zealand, just BLEH:

Meanwhile, gold is being gold, the only fallout shelter still open when SKYNET launches the nukes and destroys your portfolio:

UPDATE 20:35 ET:

Shanghai opens down 2% but off the initial opening lows. Expect MASSIVE volatility in tonight’s session (prices delayed 15 mins):

Hong Kong Hang Seng’s index opened up over 2.5% to the downside but there are hints of a bounce happening as I type this. Let’s see if the global PPT can save the day:


UPDATE 19:15 ET:

WOW! The Australian Dollar has collapsed below the 70 mark against the USD which means the carnage started with the South African Rand has expanded to every emerging and commodity currency around the globe.

Meanwhile closer to home, the Mexican Peso is about to cross the 18 mark, which means 20 is coming and so is a massive inflationary collapse south of the border (chart via CNBC):

The stock market news doesn’t get any better with the South Korean KOSPI opening down below the key 2,000 level on that index:

As a side note, Japan is closed today so they can only sell from afar as the carnage is heading straight for a Shanghai in Shanghai as that will be the key market deciding how bad this Grey soon to be Black Monday might well be.


The night is young, so when South Korea and China open up shortly, all I can say is BOHICA and keep your Deathburgers close at hand as the market action this week could cause violent reactions including fever, insanity, and vomiting.


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