by John Galt
March 26, 2017 21:30 ET
I think we might be taking a market road trip soon…
Tonight has started out “interesting” needless to say. One of the headlines from CNBC gives everyone a clue as to how this evening may roll:
The Nikkei 225 has voted down on the Trumpcare collapse with a 1.21% drop as of 9 p.m. ET:
Meanwhile as Trumpzilla gets set to roam East Asian markets, Australia has recovered first because the investors woke up and realized they are already living in a Socialist toilet so who cares:
Meanwhile, back in the home country, wow. Thinks deteriorated FAST at 9 p.m. ET with the Dow Futures going into full bore Deathburger mode:
With equity traders suddenly realizing that that “Oh SHIT” moment may soon be upon them, the smart ones are following the lead of others and getting out early, leaving the bargain hunting to the suckers. On the other side, the smart money is sending a YUGE warning if the US Dollar Index can not hold the 99 level tonight:
Of course a break below 98.30ish means 95 is the downside target and beyond that? You don’t want to know.
The good thing for the other smart money, the real money, the universal currency folks (no not Bitcoin you dumbasses), Gold is shining hard, fast, and brilliantly tonight (thank you NetDania):
With gold up $13.75 as of this posting it is not only sending a message but a warning:
This could get ugly, fast; without warning.
Lastly, here is the FINVIZ hot board snapshot to show everyone that all is not well in Trumpmarketland and tomorrow (today in Asia) could be in for a rough, bumpity, bigly, ugly ride:
Tonight could only be a precursor to a very interesting day in trading on Wall Street. I will update around 0430-0500 ET to let my readers know if they need to set their hair on fire. In the mean time, this action does bear watching….
05:15 ET UPDATE
Things have not improved overnight with the US Dollar breaking the 99 level before rumored Bank of Japan intervention between 03:30 to 05:00 ET causing a bounce which will probably fail later this morning. As a result European markets opened ugly with the German DAX not approving of Trumpcare’s implosion:
The UK FTSE 100 has bounced off of its worse levels:
But precious metals are enjoying a flight to safety as markets begin to panic a tad bit more. Silver made a solid run towards $18 again only to be rebuffed by the currency markets:
With Dow Futures hovering around -140, today will be anything but dull, especially since El Presidente hasn’t started Tweeting yet.