Stocks And FX 'Breaking Bad'

Tyler Durden's picture

While we may not all need to turn to meth labs for our income, it would appear the exuberant wealth creation of the last month or so is up against a tough place here - as credit has been warning all of January. S&P 500 futures are testing critical support here for the 5th time in 5 days, EURUSD is breaking below key support levels, and the decoupling with Europe is very concerning (as opposed to cleanest dirty shirt) as one only needs to look at last year to see that... Dow 14,000 and S&P 1,500 have been lost for now - get back to work Mr. Bernanke...

Birinyi and Bernanke are not happy...

 

The last time Europe and US decoupled...

 

and S&P 500 is testing key support...

 

as EURUSD breaks below initial support levels...

 

and remember credit has been dropping hints for a while...

 

Charts: Bloomberg and Capital Context