Dire Conditions Are Now Spreading Across The Globe

Wednesday, February 24, 2016
By Paul Martin

February 24, 2016

With stocks tumbling and gold surging nearly $30 at one point in today’s trading session, dire conditions are now spreading across the globe.

But first…

Here is a portion of today’s note from Art Cashin: Overnight And Overseas – Crude is under pressure again. The fear of a British “Brexit” is pounding both the Sterling and the Euro. Trump’s solid showing in Nevada gives his candidacy new credibility. China guides its currency a bit lower again.

With those things as backdrop, most equity markets are getting hit. Japan, Hong Kong and India closed lower while Shanghai eked out a modest gain. European markets are getting whacked with Germany down the equivalent of 400 Dow points.

The flight to safety is in fully swing with folks buying the yen, the dollar, Treasury bonds and even gold.

Consensus – Oil remains at center stage and may exert even more influence if it moves below $30. A close in the S&P below 1917 may do some damage to the charts. Stick with the drill – stay, wary, alert and very, very nimble.

The Rest…HERE

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