Death Crosses Everywhere

Source: What Is That Whistling Sound

Are you ready for the great plunge?

Consider the following story from Reuters and these indicators:

MOHAMED EL-ERIAN, CO-CHIEF INVESTMENT OFFICER AT PACIFIC INVESTMENT MANAGEMENT CO., NEWPORT BEACH, CALIF.:

“Every aspect of this disappointing report points to the U.S. facing an unemployment crisis.”

DAVID SEMMENS, U.S. ECONOMIST, STANDARD CHARTERED, NEW YORK:

“It’s a terrible number, there is no good news you can glean from it. It’s driven unemployment up and the participation rate has gone down. It shows the labor market is still lagging improvements in the overall economy. I don’t think this puts pressure on the Fed to do more, though. It’s a concern, but you there’s still some job creation and you’re really seeing softness in the economy rather than an outright contraction. I think this shows that the outlook for business remains uncertain, but the pickup in ISM suggests things are improving. I don’t think it will affect the deficit reduction debate either. Any spending cuts will be aimed at 2013.”

Copper

WTIC death cross formation in process

XLF – without financials participating, there is no recovery

SOX formation in process and one of the better leading economic indicators

10 year T bills

CRB forming

SSEC – Shanghai death cross

Read more at What Is That Whistling Sound?