The biggest crashes take place when the average stock is already on the ropes and the market is held up by a few mega caps. Keep dancing while the music plays?

The Nasdaq is extremely oversold, hence today's bounce. However, Bitcoin is breaking the 50 day for the first time in six months.

The biggest crashes take place when the average stock is already on the ropes and the market is held up by a few mega caps. pic.twitter.com/5Xmy5V4l1E

— Mac10 (@SuburbanDrone) April 21, 2021

Keep dancing while the music plays?

Great piece – fantastic charts – from @Callum_Thomas https://t.co/PAZ131o6mh pic.twitter.com/c48hjLOdzG

— La nuit sera calme (@NuitSeraCalme) April 22, 2021

I used to give ARK the benefit of the doubt and assumed they were just naive optimists who stumbled into the right place at the right time. But this cannot be chalked up to stupidity – this is willful malevolence. They will literally say anything to keep the music playing. https://t.co/ZO1H6V9Zim

— TheLastBearStanding (@LastBearStandng) April 22, 2021

Debit suisse pic.twitter.com/bG4RNc2WDh

— Alessio (@AlessioTMAD) April 22, 2021

The Crypto bubble cracked last weekend, and has been in a dead cat bounce this week. The next leg down should bring margin calls and collateral damage to other asset classes.

The sheeple don't question this idiot bubble, because they don't want to look stupid. pic.twitter.com/5Is7YXfQIA

— Mac10 (@SuburbanDrone) April 21, 2021

Credit Suisse not exactly an encouraging chart -4.90%

At this rate Habib Bank will be making an all-cash bid pic.twitter.com/w3EgQHLYeB

— Sunchartist (@sunchartist) April 22, 2021

The head of risk at $CS had no clue they had $20B of exposure to Archegos. 🤦‍♂️🤦‍♂️🤦‍♂️ pic.twitter.com/fFKdm1KCxv

— Donut Shorts (@DonutShorts) April 21, 2021

More Japan rotations out of foreign stocks and into bonds last week, synonymous with pension activity.

Japan funds bought 906.5b yen (~$8.4b) in overseas bonds vs selling 1.1t yen (~$10.5b) in stocks, the most since November. https://t.co/WVvG5gEp60

— Stephen Spratt (@StephenSpratt) April 22, 2021

Credit Suisse is raising about $2 billion to shore up capital after warning of another financial hit from the Archegos collapse. @Flacqua spoke to CEO Thomas Gottstein this morning https://t.co/PFudNB0a3c pic.twitter.com/csU5wapLn4

— Bloomberg TV (@BloombergTV) April 22, 2021

Hedge fund leverage to the moon. Who is the next one to be bailed out?
H/T @LanceRoberts pic.twitter.com/hZKqc2amZ7

— Menthor Q (@MenthorQpro) April 22, 2021

Cathie Wood is not feeling good about $TSLA earnings. She sold another 164,000 $TSLA shares in $ARKK today. pic.twitter.com/HlPcPD0b7s

— B Graham Disciple (@bgrahamdisciple) April 22, 2021

WTI crude oil futures down 1%, now at $60.74.#WTI #OOTT #Futures pic.twitter.com/B14Cpl3PPr

— CN Wire (@Sino_Market) April 22, 2021

You have to wonder, what were people thinking last February?

They weren't.

Now they've doubled down on their strategy.

Their entire IQ is owned by central banks. pic.twitter.com/YmG7qrSpRP

— Mac10 (@SuburbanDrone) April 22, 2021

More than 850,000 reported Covid cases globally today, a new record high.

India alone reported more than 315,000 new cases, with a test positivity rate of ~20%.

The real numbers are much higher, of course. pic.twitter.com/jtcOf80SDt

— Ben Hunt (@EpsilonTheory) April 21, 2021

The 1920s Fed made a lot of mistakes. However, it did realize the impact its profligacy was having on stocks. It eventually started a campaign, cautioning against credit 'seeping' into stocks. It was doomed to failure but more than what today's Fed is doing. pic.twitter.com/eR682newPX

— Peter Schmidt (The 92ers) (@The92ers) April 22, 2021