We apologize for repetition but if ever there was a need for this clip (as analogy for the complacent confidence that PBoC, ECB, Fed, BoJ, or SNB would save the world no matter what in the face of last night's epic collapse in China and uncontained follow through in Europe and US...)
Fwd to 2:00 and 'enjoy'...
Everything is not awesome and everything is not contained..
In China...
Or Europe...
Or 'Murica...
On the day, US equities staged their standard JPY ignited momo bounce off the 200DMA - running perfectly to VWAP in the S&P, before limping lower...and a mini algo meltup to VWAP at the close... all completely human!!
Cash indices rasmped into the European close then faded to lows...
But Breadth continues to be terrible - 414 New 52-Week Lows is the most since October!!
Futyures show the weakness started in China, accelerated in Europe and extended in US...
The S&P 500 closed red 5 days in a row - the longest such streak since January... And The Dow is the furthest below the 200DMA since the Buillard bounce...
The S&P is gettung very close to negative YTD once again...
Since Greece capitulated and the world celebrated a "fixed" Europe, the exuberance has faded... but gold has been monkey-hammered...
Treasury yields continued to slide... but were magically bid at the US cash open...
The US Dollar dumped but bounced after Europe's close...
PMs outperformed but still closed lower (despite the weaker dollar) as Crude and Copper were clubbed...
WTI Crude just hit a $46 handle...
Don't forget - China opens in 6 hours!!
Charts: Bloomberg
Bonus Chart: Bar Breadther-er...
Weekly (Friday vs. Friday) Breadth is turning as ugly as the daily data pic.twitter.com/DPktmPIMRu [26]
— Not Jim Cramer (@Not_Jim_Cramer) July 27, 2015 [27]














