Thread by @todd_harrison

THREAD: a technical look at global markets. Start w $SPX 1-year and we see the obvious damage this month. Sliced thru the 50- 100- 200-day moving averages and 'bounced' to back-test the 200-day. Oversold, but we know the sharpest moves are from oversold conditions. 👇👀

2/ Pull back the aperture to a five-year lens for broader perspective...

$SPX

3/ And a long-term $NDX to put the current pullback in perspective.

4/ But the real action is overseas; let's start w the $DAX 🇩🇪

If you have small children, you might want to cover their eyes. This ain't pretty.

5/ Meanwhile in 🇯🇵 the land of the double top is approaching trendline support, so we'll watch that for clues. I know charts are only one of four primary metrics (fundies, psychology, structural) but it's a great context for risk.

$NKY #Japan

6/ 🇭🇰 Hong Kong doesn't inspire confidence. Over the 30 years I've watched markets, I always keep 👀 on the Hang Seng as a proxy for EM risk appetites.

(they don't seem so hungry)

7/ 🇫🇷 One could argue that's a pretty snazzy coupe et poignée--as long as it holds 5000. Even still, in the last two weeks, 8% of the value has disappeared; voilà, just like that.👇

8/ We've got a fair amount of 🇦🇺 exposure so we keep close tabs on the land down under. It hasn't been the smoothest of tapes but it's SUPER-early (for our #cannabis holdings there) so we've got loose grips on the handle-bars.

9/ Holla to our *trailblazing* neighbors to the north - my 🇨🇦homies know who they are - and CONGRATS on 10/17 (!!) but celebrate fast b/c 👇👇

And if ya got a kick-save and a beaut, ya may wanna use it @ 15K, eh? 🏒

$TSX

10/ And no walk around the 🌎 would be complete w/o checking in on 🇨🇳

And there's not much I can add to 👇

/end