And it will and the markets will keep declining. There will be no big crash but rather a long long long slow bleed where longs wake up 4 months from now saying, wtf! With a long slow bleed, no one sells until its waaaaaay too late.
Eurodollar will decline much further in coming months.
On top of that, the Chinese will no longer be able levitate their manipulated yuan as global crisis takes a stronger hold.
The Boa has its body wrapped around every country. the ones in the middle get squeezed last. We are almost at that phase.