BOOM! The Round Number Gives Way…

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by Chris

Remember, stocks are for show, but bonds are for dough!

The S&P 500 has just convincingly lost the 2700 level having danced there for several days, crossing that not-so-magical line-in-the sand 10 times just today.

But once breached for the last time, we are now a full -25 points past that.

The various corporate bonds that are sinking and the financial ETFs out of the US and the EU indicate that something serious is brewing here.

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One odd note is that gold is just sitting there, doing nothing.  I suspect that doesn’t last much longer.

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Game on.

Deutsch Bank (DB) is down 6.5% and Credit Suiss (CS) 4.4%.

Today’s board from  Quite dramatic.

Only beverages and utilities are green today.


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