Fiat Currency Structure Failure
Daily trading has been rather volatile over the past weeks, and liquidity pathetic. You don’t need much capital in these markets to dictate the price.
Although people still judge the economy by where the SPX trades, we would like to repost the chart that sums it up pretty well.
Presented first time in 2010, the “fundamental” story is intact. After Spain comes Europe core, then US, Japan and finally the full blown currency crisis. Until then, algos will continue ruling the markets.
Chart courtesy Gordon T Long.