Thur, Feb 25, 16
08:45 ET Update: [Stockboardasset] S&P futures -4bps
08:45 ET Update: [Stockboardasset] Nikkei +127bps
08:45ET Update: [Stockboardasset]FTSE100 +126bps DAX +86bps
Overnight China Markets crashed, Japan advances, as well as Europe advances. That is the vibe of the Pre- G20 meeting as it’s host country: China continues a rout not seen in a month. Typical comments out of Japan from Kuroda defending NIRP, meanwhile Japanese markets in a post-NIRP era have seen dramatic declines. Apparent this morning, normal coefficient correlations to US Equities have dissipated in preparation to G20. Last week’s OPEX rally short cover advanced US Equities in an unstable structure. The resistance on the advancement is a major 1.414 extension of the entire bull cycle at SPY 195. Markets are testing this level on a non-linear timeline of 4 days. If a rejection of this level occurs expect a reversion to 189.50, then fill the 187 window. If the 1.414 extension is successfully on the upside, a migration to the upper distribution of the bi modal will be seen. Markets at crossroads.