Apple vs suppliers’….Apple can increase prices etc but the suppliers seem to be caught off guard…


CSI 300 – rather volatile session overnight but note the big positive candle. Maybe China will break up when everything else is in “chaos”…



The Chi Next index, pointed out today, continues breaking up. The second day above the 50 day.



Just as a reminder, China does influence the economy, but the Chinese market has little to do with Spuz.. there is no statistical correlation between the two indices.



VIX, VNX, V2x YTD chart in per cent. VIX in the top, followed by NDX vol (VNX) and the relative “loser” V2X. During this recent sell-off that started in October, all vol indices are up, with VIX putting in the biggest percentage gains.



Things can be oversold for a long time, but oil has not been this oversold since 2014 if purely seen by the RSI. They say never catch a falling knife, but we will watch possible reversals. Why not another tweet from Trump?



Buybacks…”… planning new facilities takes longer than executing a buyback, and will take longer to show up in capital spending figures….” (FT). It seems easier logging into the Instinet account and to resume the buybacks.



Oil vs Norwegian OBX index…decoupling.



Tencent (white) vs FANG index since 2015. Tencent is the relative dog since the highs and has been a good “indicator” for the entire space going lower…. note lately that Tencent has started showing signs of life and has outperformed the FANG index over past days…


Source: charts by Bloomberg