'A Number Of Big Cards Have Been Turned Over This Week": Goldman's Hedge Fund Honcho Sees "Some Elements Of Capitulation"

A number of big cards have turned over this week, according to Goldman Sachs head of hedge fund coverage, Tony Pasquariello, noting that much of the news was objectively good, yet price action speaks for itself. 

In the search for why, the points below address the fundamental tensions within the market, but one can say it plainly: this market is being sold.