Last night after consuming a Deathburger (only my old listeners and readers would get that), I went to sleep thinking that there is no way Jay Powell would take Black Friday off and allow the markets to get smoked by the algos thus hurting retail sales and investor confidence.
Womp. Womp.
There is concern for a new “variant” B.1.1.529 aka, the “Botswana” variant of which less than 100 known cases have been detected thus far. Needless to say it’s vaccine resistant like Delta, more transmissible like a bio-weapon, and more terrifying to the average citizen like the phrase “President Harris.”
Thus a major global selloff has begun but if this is the start of something larger, by starting on a holiday, the sheeple are totally unprepared for it as most are enduring a Turkey hangover.
All of the futures displayed below are courtesy of Investing.com:
It’s a bloodbath in the making because volumes will be thin so moves will be exaggerated by the surge in selling, much of it will be automated should US markets follow some European markets which are down 2-3%:
Needless to say gold is up over $25 per ounce, but “digital gold”, aka, cryptocurrencies are getting smoked:
The big commodity moves besides gold to the upside is oil to the downside with WTI Crude being burned off down almost 7%:
Stay tuned ladies and gents, this could be an abbreviated market but some Deathburger sliders may well be served to unsuspecting traders caught on the wrong side of the trade.
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