- Total equity market volume was down -7% versus its 1-month average yesterday
- Gold is up +25% year-to-date
- Global growth continues to slow
- The best efforts of central bankers have failed to stimulate global economic growth
- The earnings recession continues (for Q2 2016, 458/500 S&P 500 companies have reported an aggregate earnings decline of -4.1%)
- Oil prices continue to fall on bearish fundamentals (and pop on OPEC oil production freeze rumors)
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