'little minnow' the SSEC is doing nicely now the government has had a double take.
And I believe this is the first of a set of corrections this year so I'm ready for that. Normally I'd think of a zigzag pattern but major markets could easily trawl absurd lower levels over the year. China's government action is the last of desperation. They devalue the yuan and it sells through their "floor" which is something not easily controlled albeit buying yuan they're just devalued!!
Europe's problems haven't seemed to be noticed yet.
The FED may lay low for quite some time. Also interesting in the FED minutes is that the 12-0 vote to lift rates was a bit 'iffy'.
