LANCE: "Technically Speaking: Stocks In A Bloodbath, Look For A Sellable Rally"

Any rally should be used to reduce portfolio risk in the short term as the test of the 200-dma is highly probable.

Given that monthly data is very slow-moving, longer-term signals can uncover changes to the trend which short-term market rallies tend to obfuscate.

Interestingly, despite recent "all-time" highs in the S&P 500, the monthly signals have all aligned to "confirm" a "sell signal."

With both earnings and corporate profits under pressure, this may be the start of a bigger corrective process like we witnessed in 2018.

This kind of soft tone by Trump administration is tailor made for US stock markets. Their lies have become bubbles flooding the US stock markets. Whether or not there will be negotiations, China won't yield to Washington's hegemony. We're prepared for new US tariffs.

Unsustainable divergence between dividend growers’ underperformance & declining Treasury yields? @SoberLook #AlpineMacro

Aug 6: $VIX futures contango settled at -1.27% This is called backwardation There is a small tail wind for $VXX, $UVXY, $TVIX

We could just FOMO rally rest of the week with Fed put and Trump put still in play.

There problem with a yuan devaluation is not the economic advantage, but that it will tank stocks. Trump has a weakness - the stock market - and China will exploit it.

Central banks accelerate aggressive rate cuts, another oil bear market, and a milestone for gold. Here’s our daily markets briefing https://bloom.bg/2yL1jKW 

TROUBLE! Copper-to-gold ratio has fallen to a level that indicates traders haven’t been this worried about global econ since Trump was about to win the White House, BBG reports. With gold climbing and copper falling, it now takes fewer than 4 ounces of gold to buy a ton of copper

#Gold Future tops $1,500 as investors and Central Bankers seek shelter from the storm and as volume of negative yielding debt hit fresh high of $15tn. Total ETF Gold holdings at highest level since 2013. https://www.bloomberg.com/news/articles/2019-08-07/gold-approaches-1-500-as-investors-seek-shelter-from-the-storm …