Good update of how the recovery is shaping up for the second half: Watch the clip here.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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I know that something bad is brewing.
The ECRI index is down again in -10.5%, and it means recession.
The architects of the index are quiet. Unusually quiet.
The situation they have at hand is pervasive, pronounced, and I know that they just waiting for the third p to ripe into: persistent, -before making a call. They never made a wrong call about recessions. And if they right again, than 99% of Wall street's educated guess makers should loose their job.
On high frequency trading security etc
http://market-ticker.denninger.net/archives/2528-High-Frequency-Trading-Something-Black.html
More fun in Greece
http://www.zerohedge.com/article/greek-government-resorts-wartime-emergency-act-threatens-economy-paralyzing-strikers-prison-
Stunner: 12th Sequential Domestic Equity Outflow (And $11 Billion In July Alone) Invalidates Volumeless July Stock Surge
http://www.zerohedge.com/article/stunner-12th-sequential-domestic-equity-outflow-and-11-billion-july-alone-invalidates-volume