Just Two Charts

Tyler Durden's picture

It would appear the connections that have been supporting stocks for weeks are beginning to break a little. As the following two charts show, JPY carry trades and bond markets are suggesting rough-sledding ahead for the risk-on crowd. Meanwhile, AMZN is having its worst day in 15 months...



and bonus chart of the day...AMZN's worst day in 15 months


Charts: Bloomberg

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fuu's picture

The AP Flash Crash hit FX too?

The Juggernaut's picture

AMZN business model just included Washington DC taxes.  I wonder what the lobbyist received for allowing this to happen.


Congress is probably exempt from the tax, as well.

Bohm Squad's picture

It was about a 30pip move from high to low on the 15min chart...the selloff that evening and buying the next morning were larger moves to put it in perspective.

fuu's picture

It stands out in the chart is all, forex is not my thing.

Jekyll_n_Hyde_Island's picture

  Friday is almost always slow.  JPY and USD are still inexorably linked -- this is just weekend caution, as usual.

MillionDollarBonus_'s picture

World Leader Profiles 

 Mario Drahgi 

Favorite food: Veal Scallopini

Favorite song: Wild Horses - the Rolling Stones

Favorite book: The Bible

What would you do to reduce youth unemployment?

The first thing I would do is introduce a comprehensive jobs program that targeted young adults between the ages of 20 and 30. It is absolutely unacceptable that youth unemployment remains so high when there is so much that can be done.

Temporalist's picture

Do you know his measurements too MDB and have his poster on your wall?  He's dreamy!

ParkAveFlasher's picture

Favorite Financial Torture Instrument: The Bail-In.  "Why inflate, when you can confiscate?  Prego!"

What a dreamboat.

Abraxas's picture

Yeah, these guys are equivalent of the Spanish Inquisition. They have the power, they have the means, they like to inflict pain and they have twisted value system.

mayhem_korner's picture



Mario Draghi identifies himself as Roman Catholic.  That would pretty much eliminate The Bible as his favorite book.

CVfriendship's picture

Does Dr. Suesse translate well into italian?

mayhem_korner's picture



Iya donta lika that a-Sam-I-am

Abraxas's picture

I will fuck you in the boat

I will fuck you with a goat

I don't care

Jekyll_n_Hyde_Island's picture

Yeah. Um.  About that.  Roman Catholics preserved and maintained The Bible for over 20 Centuries, 1400 years before Martin Luther decided to drop some books and go rogue.   It's worth mentioning that they also cannonized the book you call The Bible and held more than a few counsels which theologically answered heretics and generally preserved the written and oral tradition of the Church and the Bible.

  Mario Draghi is as much a Catholic as Nancy Pelosi, so let's not broadstroke a Religion by a member.

  Although I'm sure that you and Dan Brown and Tom Hanks would have some good conversation, Mayhem -- don't quit your day job.

JPM Hater001's picture

He wears a size 42 straight jacket and a 7 foot coffin.

JailBank's picture

It's his intangibles that make him a great prospect.

Bearwagon's picture

Where, the heck, did I leave that damned "S&P 1600" hat? It must be somewhere ....

camaro68ss's picture

Did you check next to your S&P 1700 hat? hell, just use that. it will be there soon.

fuu's picture

I used a sharpie to change Dow 10,000 to S&P 10,000 on my hat.

doomandbloom's picture

Remain Calm...nothing is going to happen...

waterwitch's picture

sell in may go away

Racer's picture

That's sooo last century.... computers don't go on holiday.... or sleep...

Target Practice's picture

.....It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead.

101 years and counting's picture

the trend line from nov is providing support at 1580.  it breaks, spx drops.  and drops far and fast. 

Awakened Sheeple's picture

Light volume yesterday and today so far. It aint happening just yet. Bearish candle this week. Bulls will get barbecued soon enough.

css1971's picture

Not happening...

The market is manipulated. Sentiment doesn't matter, momentum doesn't matter, fundamentals don't matter. The economy doesn't matter.

Since you're using US Dollars to measure stuff, the only thing which matters is the issuer of US Dollars.

Devils Advocate's picture

You have been showing charts like this for months and I do not think I have ever really see them converge....Will this time be different?!?!

css1971's picture

No offence Tyler, but... Down?


That just doesn't happen in the real world.

First There Is A Mountain's picture

Epic carry unwind coming soon to a theater near you a la 2008. AUD/USD is laughable at these levels. But until then, get on board the cocaine train and ride it for all it's worth, baby. One day in the distant future, BTFD idiots are going to be confronted with a lock limit down scenario (driven by real news or timely, well placed terrorist algo tweet) and feel the pain of being stampeded as they go market sell and watch their precious P&Ls get knifed in the kidneys. All the buy algos in the world won't be able to control that kind of exodus.

camaro68ss's picture

Knifed in the kidneys, dam, thats Brutal. must be some bad shit comith this way

First There Is A Mountain's picture

Brutal? Wait until you see thousands of frantic, coked up bagholders all heading for katy barred exits. That's going to be brutal.

Racer's picture

Don't worry, on Monday AMZN's earnings will be forgotten  and it will soar courtesy of Algo Prop

forwardho's picture

AMZN Has taken four consecutive hits,  heavy casualties.


the not so mighty maximiza's picture

Fly like an Eagle to the sea PPT.

mayhem_korner's picture



Speaking of flying eagles, Au is sportin a healthy chubby again this a.m.

Cursive's picture

Henry Blodget and Paul Krugman say, "You MUST buy this dip!"

Ban KKiller's picture

It is sunny. Bullish!

SheepDog-One's picture

Oh that's OK I'm sure they'll find SOME other 'carry trade' to hitch all equity markets to and ride higher. Fucking bullshit.

H E D G E H O G's picture

'bout time to infest Syria with some good ole fashioned USA to the rescue- colonializism-kick ass WMD ending- false flag-baffle 'em with bullshit-msm circus-fake the sheeple out- DISTRACTION?

Uncle Zuzu's picture

Yeah it is really depressing that AMZN is only up 30% in the last 12 months, instead of 40%. These people obviously don't know what they are doing, or are stooges of the Fed, right?

firstdivision's picture

The AMZN chart is bullish from all the last times it tested the MA's.


So when does the FRB come out and admit that in its "Other Securities" line item, is where all the equities that it has buought are located?

Bam_Man's picture

AMZN could have TEN more days in a row like this and STILL be ridiculously over-valued.

MedicalQuack's picture

Intangibles..yes..time to license and excise tax data sellers making billions in profit, i.e. Walgreens made short of $800M in 2010 selling data only.


Tax can go to the FDA and the NIH...to fund them against cuts..

Another jerk company selling data and nobody looks and he doesn't describe himself at a credit company, but that's what he sells..you can't see what he has on you and I can't...


The other day you used charts from DE Shaw..you must see this video from the quant who used to do modeling for Larry Summers there..she's a good gal and smart, go to the end and see where she thinks he has asbergers..I called it modeling for inequality so perhaps a little background information might explain the DE Shaw charts:)  She says Hedge funds are around for one reason, to skim off retirment accounts..really good vide and flat out truth:)


polo007's picture

According to Bank of America Merrill Lynch:


Macro viewpoint

Easy in, easy out

- Review: The choppy slowdown continued into April, with better jobless claims but weak regional manufacturing surveys.

- Preview: The April employment report will be a good test of whether the March weakness was a fluke or a sign of sustained weakness. We look for a sub-consensus 125,000 increase.

- Hot topic: With persistently sub-2% inflation, the case for continued QE is building. When the Fed does finally head for the exit, the key question for investors is the same as it has been in the past: if inflation is low, it will be a soft landing; if inflation is high, buckle your seatbelts.