• The S&P 500 dropped 2.50% after fear of QE tapering tipped the markets
    • Stimulus could be tapered by end of year if the economy continues to improve
    • 10-year Treasury rose 4.67% to 2.42%, gold fell 6.84%
    • This is what the Whale predicted in his earlier post¬†“Great Rotation” to Nowhere


  • PMI Flash Index rose more than expected to 52.2, indicating an expansion
    • Yet the indicators has been trending downwards
  • Existing Home Sales rose 4.2% to 5.18M SAAR, sales are up 12.9% Y/Y
  • Philly Fed Survey shows some ¬†improvement up to 12.5, from -1.0


  • Jobless Claims rose more than expected to 354K, suddenly showing upward movement
  • China PMI showed slowing and credit issues are emerging again