Picture of the Day: Raining on the Risk On Parade

This mural in Poland encapsulates the global markets today.  It’s raining pouring on the risk-on trade.

The markets were hit by a hat-trick of three Macro Swans coming home to roost — fears of: 1) China hard landing;  2)  Eurozone bank and debt collapse; and 3)  the U.S. economy rolling over.  The S&P500 closed below its 200-day moving average for the first time this year.

Capitulation is coming.  Stay tuned.

(click here if picture is not observable)

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This entry was posted in Black Swan Watch, Picture of the Day and tagged , , , , . Bookmark the permalink.

2 Responses to Picture of the Day: Raining on the Risk On Parade

  1. Short, sharp and to the point as always – cheers and Thsnks

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