The Nikkei is down another 2.6% as I write this post, and the ES Futures are following suit, down 8 handles so far.
The Nikkei has taken out the January lows as we plunge into no-mans land. Falling into support, the Nikkei is hanging on by a thread here.
The question is not if, it is WHEN and how quickly will we hit 14,000:
As I just posted tonight, US Futures are looking bleaker than Bill Cosby’sĀ future. I see nothing to the long side. Risk/reward is high IF you’re buying down here, and IF we rally. But if the Asian and European markets keep getting pummeled, there is absolutely no way the US Markets will not follow suit. This is something even Queen Janet cannot control. Prepare for carnage.
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We’ll know we’re really screwed if Janet invokes her fifth amendment rights.