Last week we discussed France and how it should be fucked. That turned out to be correct and the Exodus algos went into high gear on Friday, trying to decipher the carnage.
Surprisingly, there isn’t much to tell. Aside from a few random names being OS, like CLX, Friday’s closing levels didn’t push anything into oversold range.
As you can see by the actual OS instances below, Exodus has been crushing the oversold ranges, continuing a path of excellence that was initially take in 2008.
The only bullish bullet point taken away from Friday’s session is the horrible breadth in the market. There wasn’t anywhere to hide, not in gold or bonds or REITs. Everything got hit, marking a 90% down day–the first since August of 2015.
On that fateful day in August of 2015, Exodus did indeed flag OS and the signal worked. Shortly thereafter, however, markets dropped lower–eventually bouncing in late September.
My feelings aside, Exodus is suggesting Friday was a do nothing day. But if history is any guide, we’re in for a rough couple of weeks ahead.
If you enjoy the content at iBankCoin, please follow us on Twitter
bond defaults are going to steamroll everything as we are at peak leverage. central banks will loose their illusion of control. we will get the fire sale that Trump has been expecting.
What are you looking to grab in the fire sale?
After defcon nuke spx 666 and vix 80. Miners first. Then oil and resouces.
Lolz, that stuff will still exist?
So did just a bunch of cash get pulled out on Friday? Where’d all that money go?
The interesting thing about the sell-off on Friday was how little stocks were down. I’m not surprised that very little is show OS. Nat Gas is looking great here.
OGS has been my play so far on ng. What’s yours?