Well, that deteriorated quickly.
Looks like I was wrong, and the expected bounce helped along by some judicous futures propping just crapped out.
We are now below yesterday’s lows:
And that’s with a stock futures ramp yesterday and a Fed jawboning moment.
I guess when it’s time to get out, it’s time to get out.
Good luck US corporations with this little chart right here:
$583 billion in the first 3 quarters of 2018 that are now, collectively, all under water.
Great swap of assets for equity there US corporations! Balance sheets dutifully eroded right at the tippy top. As usual, it bears repeating.