Here Is One Place Where The Stock Market Hasn't Disconnected From Oil

Dubai... is down 23% in the last 10 days. After soaring 64% in the first half of the year, Dubai's Financial Market General Index has collapsed 33.5%...

 

but if it is due to correct to where oil trades, it has a long way to go still...

Maybe it disconnected a while back, when The Fed flooded the world with money, and now it's pay back time?

 

And in case you were wondering, from when we called the top in Dubai after a "shell" company with no current operations IPO'd and was 36x oversubscribed... that company's stock has crashed 43%...

 

Charts: bloomberg