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Don't Believe The Hope

Tyler Durden's picture




 

If there is one chart that tells the 'truth' about the US equity 'market' it is this. Not only has breadth collapsed back to Black Monday lows (despite elevated index prices) but yesterday's exuberant rip higher diverged dramatically from a very significant drop (3 decliners for every advancer) in overall market breadth. Yes, it's Fed week, and OPEX, but the underlying support for the ponzi is waning rapidly.

 

 

Charts: Bloomberg

 

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Tue, 12/15/2015 - 12:23 | 6926105 dean0345
dean0345's picture

MOOAAAAAAAAAAAAAAAAAAAAAAAAAAAAR

Tue, 12/15/2015 - 12:27 | 6926120 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Sorry but we have no other choice but to believe the hype now. THey have mastered the game. 

Tue, 12/15/2015 - 12:35 | 6926162 KnuckleDragger-X
KnuckleDragger-X's picture

Pavlov would be so proud......

Tue, 12/15/2015 - 12:41 | 6926185 prefan4200
prefan4200's picture

Bullish ! Buy ! Buy ! Buy ! (pukes on shoes)

Tue, 12/15/2015 - 14:16 | 6926616 Sudden Debt
Sudden Debt's picture

remember when Goldman went beserk when one of their employees stole some software to influence stockprices back in 2008?

I think that little programm is working overtime. And all it needs to do is keep the prices up untill they unloaded everything on the baboons who believe the markets are going to the moon.

Tue, 12/15/2015 - 12:38 | 6926176 Perimetr
Perimetr's picture

All that appears to matter these days is the willingness of the Fed and Treasury Department to continue propping up the market.  Since they, along with the rest of the Central Bansters, have unlimited funds, what exactly is there to stop them? 

A nuclear detonation?

Tue, 12/15/2015 - 12:30 | 6926135 Catalonian Capi...
Catalonian Capitalist's picture

Israeli Shepard proverb: 'You don't show the lamb the blade before the slaughter." If i had a Shekel everytime I referenced it. hehehehehe

Tue, 12/15/2015 - 12:31 | 6926136 Catalonian Capi...
Catalonian Capitalist's picture

Israeli Shepherd proverb: 'You don't show the lamb the blade before the slaughter." If i had a Shekel everytime I referenced it. hehehehehe

Tue, 12/15/2015 - 12:35 | 6926161 One Solution
One Solution's picture

You'd have made two more today.

Tue, 12/15/2015 - 12:37 | 6926172 Catalonian Capi...
Catalonian Capitalist's picture

I wonder if it will follow the Great O'Mighty Dollar's trajectory.

Tue, 12/15/2015 - 12:33 | 6926157 BSHJ
BSHJ's picture

That was way back.......yesterday, what about today?

Tue, 12/15/2015 - 12:34 | 6926159 FreeShitter
FreeShitter's picture

At least Tyler called it a ponzi...

Tue, 12/15/2015 - 12:38 | 6926174 mayhem_korner
mayhem_korner's picture

 

 

OT, but for all the MSM hopium-imbibers out there: when Brent was $39.75/bbl in Dec 2004, gold was $440/oz.  So despite the "crushing" that Au has supposedly suffered - and even ignoring the 250:1 GLD-to-Comex phyzz ratio, gold still has 2 1/2 times the purchasing power it did 11 years ago.

My rant is done.

Tue, 12/15/2015 - 13:40 | 6926425 madcows
madcows's picture

or, twice the height to fall.

Don't be surprised when gold hits $600/oz.

The system has a long way to fall, yet.

Tue, 12/15/2015 - 12:39 | 6926182 Dr. Engali
Dr. Engali's picture

It's all good. Down is the new up.

Tue, 12/15/2015 - 12:39 | 6926183 Chris P
Chris P's picture

The ponze lives on for another day with the Fed.

Tue, 12/15/2015 - 12:47 | 6926215 Mike in GA
Mike in GA's picture

Another stat that ain't cooperating.  In fact isn't this a new low for the BDI?

Tue, 12/15/2015 - 12:57 | 6926241 Y4-B_v8
Y4-B_v8's picture

One day the underlying support will consist of Yellen yellling...print, Print, PRINT.  In unison will the rowers down the Potomac.  

Tue, 12/15/2015 - 13:02 | 6926260 arbwhore
arbwhore's picture

...but...but...Gartman?

Tue, 12/15/2015 - 13:25 | 6926356 nakki
nakki's picture

Desperate times call for desperate measures. Such a grand world when The Central Bank can buy S&P futures, the SPY, QQQ, even individual stocks. Doesn't matter which "CB" is doing it. Imagine for a second the ability to print and buy, print and buy. Take worthless Yen and buy real corporations. Take £,€ or $ and buy up ever

Eventually all the Central Banks will own everything corporate, government, and personal debt along with the entire stock market. 

Hey Janet remember talking up ownership of equities for the surfs. How is that possible when all the CB does is inflate equities? How is that possible with zirp and nirp? How is that possible with part time jobs? Maybe they could take that extra $50 a month and buy a share of Amazon after a year of savings. Maybe after living in their parents basement for the next 20 years and paying off their student loans all those record breaking millenials can just be willed those homes. Maybe after paying for ACA everyone can pony up for a share of FB. 

What a grand world it must be when you can print fiat for free and buy the world with it. For the rest of us not so much.

Tue, 12/15/2015 - 15:58 | 6927092 peu peu moxi
peu peu moxi's picture

ponzi is waning rapidly did you buy a lotto ticket crayon HB

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