RE: The factsNice Tuesday set up.
Goes exactly as predicted ..globally too
All Major Global Equity Markets Close Below Their 50-day M.A.
-Stoxx Europe 600 Index down 1.4% (off the lows of down > 2%
-Asian markets see broad based weakness
-MSCI All-Country World Index sank 1.2%
-Shanghai Composite Index dropped 2.9%
-Italy’s FTSE MIB Index slid 3%
-Spain’s 10-year bond yield jumped 10 basis points.
-Euro weakened to less than $1.40 for the first time since March 18.
-Oil and copper led commodities lower.
Germany ZEW 6 month outlook falls to 5 month low
3) Existing home sales less than expected, not a surprise but still huge drag
4) Housing starts/permits below expectations, continued impact on construction
5) May Philly and NY mfr’g survey’s well below forecasts as mfr’g showing signs of moderation
6) Motor vehicle production falls sharply in April in reaction to Japan disaster
7) Bloomberg consumer confidence falls to lowest since Aug
8) UK CPI hits 4.5%, 3rd highest reading since 1992
Just few headlines
Euro Falls to Record Low Versus Franc on Debt Concerns, Spanish Election
FTSE 100 Benchmark Stocks Slide as Raw-Material Shares Follow Metals Lower
Asia Stocks Fall Most in Two Months; Euro, Oil Drop on Europe Debt Concern
South African Equities Decline to Two-Month Low on European Debt Concern
Hong Kong’s April Inflation Accelerates to 32-Month High on Food, Housing
Asian Stocks Set for Biggest Fall Since March 15 on Europe’s Debt Crisis
Sensex Tumbles on European Crisis, as Mukherjee Sees Inflation ‘Challenge’
Nikkei 225 Drops Most in Six Weeks on China Concern, Greek Debt-Rating Cut
Japanese Government Bond Yields Are Near 2011 Low on Europe Debt Concern
Risk Rally Ending for Currencies Turns Focus to New Least Ugly-Alternative-USD
The decline this week marked the S&P 500's third consecutive loss.
basic materials ETF is down today, more than the S&P 500.
the downtrend in breadth that is forming for the Russell 2000 is considerably more well-defined than the S&P 500.
until the pattern for small caps changes, investors would be best served staying away.
https://www.bespokeinvest.com/storage/Large%20vs%20Small%20Cap%20Breadth.png?__SQUARESPACE_CACHEVERSION=1306173931428