ML-Implode News - Harnett: Massive Central Bank Intervention Is Imminent ("Shanghai Accord" or Bust)

This is Bank of America's summary, warning that unless a major policy intervention is enacted, the market will then sell off to the next support level, below the 1,812 which has proven so stable since August.
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In other words, Hartnett expects a "Shanghai Accord" to be unveiled next weekend, one where like the Plaza Accord three decades earlier, the Yuan will be massively depreciated, which ironically would halt all piecemeal Yuan devaluation on expectation of future devaluation (as it will have already happened), and reset global monetary policy stability if only for a few more months.

Said otherwise, if next weekend the G-20 disappoints and unveils nothing, the next big leg down in the selloff will have arrived.

Relevant:

Harnett: Massive Central Bank Intervention Is Imminent ("Shanghai Accord" or Bust)