Strange start to the new year

I don't think things are really all that bad in the US or the global economy but maybe the crushing losses in global stock markets to start the year argue for something different.

Albert Camus was killed 56 years ago today. He would have understood these market moves.

The next big event on the calendar is the market open in China. The Shanghai Composite finished down 6.86% and it's a bit tricky to say what's priced in from here.

The ASHR ETF is down 9.45%. PEK is down 8.4% but the currency also skews it as CNH weakens.

It's safe to say there is a bit more weakness in the pipeline but the 2-3% whims of the Chinese stock market are basically background noise given the wild swings there.