While US mega-tech stocks support the belief that all is well for many Americans, a glance around the world and this thing is seriously hitting the fan...

Downtrends are everywhere and 'death crosses' are popping up in asset classes from Chinese stocks to global Systemically-Important Banks and most recently gold...

The crossing of the 50-day moving average below the 200-day moving average has been long used a signal of trend change and more euphemistically is known as the "death cross."

Gold is now suffering...

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Silver was triggered a few months back... (but has largely gone sideways since)

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But Chinese Stocks have slumped since being hit by the death cross...

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And as China growth expectations fade amid global trade war tensions, Copper has given back its recent spike gains and formed a death cross...

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And it's not just 'real' assets, virtual currencies have been hit with Bitcoin plunging after suffering its death cross...

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Europe has not been spared with DAX suffering a death cross earlier in the year, rebounding, and now about to suffer another as Trump's tariff threats send it spiralling lower...

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Emerging Market stocks, bonds, and FX are all 'death cross'-ing...

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And finally, and perhaps most ominously, there are the Global Most Systemically Import Banks (G-SIBs) - which just formed a death cross as they entered a bear market...

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But then again - why worry - Nasdaq is at a record high...

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Probably nothing to worry about, it's only the global economy that is slowing dramatically...

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