"It'll be fine" they said... "You buy the dip" they said..."just follow my tracks"...

Post-Powell, Gold is the big winner...

Only Nasdaq remains in the green for the year, as Small Caps joined the rest in the red this week...

But it was an ugly week for global markets.

Chinese stocks slammed (but rescued late on Friday by The National Team)...

Chinese commodities carnaged...

Japanic...

Europe was eviscerated...

And back in 'Murica, things were just as bad...

*DOW AVERAGE FALLS 426 POINTS TO LOWEST SINCE NOV. 22

*S&P 500 SINKS 5.9% IN WEEK, BIGGEST DROP IN MORE THAN TWO YEARS

*NASDAQ 100 PLUNGES 7.3% IN WEEK, MOST SINCE AUGUST 2015

Nasdaq worst but everything was carnage!

Today was chaos - futures show the desperation: three algo ramps fail and we crash into the lows...

The Dow broke its triangle, broke below key averages, and is down over 10% from its record highs (in correction)...

The Dow record intraday high on 1/26/18 was 26616.7.

The S&P crashed to its 200DMA...

As FANGMAN stocks were all ugly, led lower by Facebook...

Facebook is at its lowest since July...

Banks were not quite as ugly as tech but almost...

VIX spiked above 26... a long way from the flash crash on payrolls...

Credit markets were a bloodbath in IG...

All Sectors blew wider (there are no financials)...

And EU HY spreads are blowing out...

High Yield Bond ETF crashed to its lowest since 11/16/16...

As bank credit risk spiked above Feb highs...

Shit is getting real...

Credit is now leading VIX...

Treasury yields ended the week lower, tumbling in the afternoon today as stocks slumped...

10Y Yields tumbled to their lowest since Feb 9th this week... This is the 21st daily close in a row with a 2.8x% handle.

Jeff Gundlach's favorite 10Y Yield indicator is signaling a notable drop in yields to come...

The yield curve stabilized modestly this week... at 10 year flats....

The Dollar tried to bounce yesterday but ended at the lows of the week and lowest since Feb 20th... This is the first down week in the last five weeks...

Bitcoin managed to scramble into the green for the week, after cryptos erased their losses from G-20 concerns...

While Chinese commodities crashed; as the dollar tumbled, the energy complex ripped higher along with PMs (as copper tumbled)...

Gold was the best performing precious metal as Palladium tumbled...

WTI/RBOB had a big week but note (lower pane) that as selling pressure hit stocks, the energy sector dumped into the red on the week...

Finally, this is far from over!!! "It's baked in the cake"...

Say goodbye to The Shanghai Accord. What happens next...