Seemed appropriate…
With 121 S&P 500 members now trading more than 20% off their highs…
No real catalysts today – aside from Hilsenrath talking back Powell's dovishness, a terrible Challenger jobs data point, moar crude carnage, and all the story stocks and media firms getting Baumgartner'd… Nasdaq was worst, Dow best but still a loser…
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The plunge was initially protected by a mysterious bid which failed and then anchored off JPY and WTI Crude…
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Desperate to get back to VWAP…
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Which left cash ugly on the day…Dow tested to 6mo lows – just short of 1000 points off the highs… Nasdaq worst on the day…
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And on the week… Small Caps are the biggest loser…
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Russell 2000 briefly went red for 2015
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Energy stock dip-buyers were out en masse….
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But credit was being dumped…
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Even as Energy credit risk is soaring – back near 2015 highs…almost 1000bps!
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VIX Soared on the day back above 14… (after an 11 handle just 2 days ago)
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Treasury yields tumbled today…leaving 30Y yields lower on the day…
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The US Dollar drifted very modestly lower… Cable saw a quick dump on BoE comments this morning….
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Commodities were mixed with gold and silver drifting higher and copper lower…
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Crude was clubbed again…
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Charts: Bloomberg
Bonus Chart: Explain this ‘signalling'!!
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h/t Jim A
Bonus Bonus Chart: You Are Here…
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