by John Galt
July 27, 21:45 ET
The Dow was up but the rest of the equity market took one giant leap for turdkind today in what can only be a warning shot for the upcoming fireworks that the Repbulicons and D.C. are just determined to inflict upon the American economy.
The “Oh Shit” chart of the day is courtesy of the Dow Transports which dumped over 3% which in normal times would cause the old timers to get a tad bit excited:
For the math geniuses now running Wall Street however, they’ll just threaten to unleash more algos from hell if Yellen doesn’t promise them a job at the Fed after the crash.
Buckle up. Tomorrow could be fun, Monday more fun, but after that it is August and that’s when it’s nut check time.