When Credit Goes, So Does Equities

What makes anyone think this time is "different." The SPX decoupled from high yield credit (HYG) in 2013 for the first time since 2007.

The onslaught of poor US economic data will continue to weigh on equities regardless of the desperation to hold onto the feel good story of growth.

I expect a 20 percent pullback to the 200-week EMA at 1,810.