I call this chart:
"Tempting fate" pic.twitter.com/B13oaeSwjg
— Mac10 (@SuburbanDrone) September 16, 2022
There's the week.
If you notice on the weekly, last week bulls had an outside reversal, which signaled a possible continuation rally. However, this week bulls pulled off an even bigger outside reversal going the other way.
Negating last week's signal. pic.twitter.com/eNU9QRsBhX
— Mac10 (@SuburbanDrone) September 16, 2022
When the major averages break the June lows there will be brick shitting panic. And there will be no one on the other side of the trade.
Internet stocks are the first to make new lows. pic.twitter.com/AbHDhICLRZ
— Mac10 (@SuburbanDrone) September 16, 2022
Which #EmergingMarkets are most vulnerable to higher #US rates & stronger USD
Our vulnerability index shows:√ 5 worst: Pakistan, Colombia, Egypt, Hungary & Czech which have in common large external financing needs & low real rates
√ 5 best: Taiwan, China, India, Israel, Korea pic.twitter.com/V2ADsTOJgT— Patrick Zweifel (@PkZweifel) September 19, 2022
This is why Wall Street is panicking right now:
"The company said results were adversely impacted by global volume softness that accelerated in the final weeks of the quarter"
This is only the FIRST tape bomb for this quarter.
Many more to come. pic.twitter.com/ThsJBv4Pu0
— Mac10 (@SuburbanDrone) September 16, 2022
"Global Recession Looms Amid The Broadest Rate Hikes In Five Decades"t.co/xLlQuuAMFR
"But this recession will be a soft landing" pic.twitter.com/XL27zjLubf
— Mac10 (@SuburbanDrone) September 16, 2022
The average 30 year mortgage is up from 2.7% to 6.3% in a year.
This means:
Monthly payment on a $500,000 loan last year = $2,030.
Monthly payment on a $500,000 loan now = $3,100.
Housing prices are down 6% in 1 month, biggest drop since 2011.
Recession is an understatement.
— The Kobeissi Letter (@KobeissiLetter) September 18, 2022