Homebuilders And High Yield Suggest All Is Not Well Today...

Tyler Durden's picture

The schizophrenic good-is-good, "we dont need no stinking Taper" market action earlier seems to be hitting a small road-bump. Interestingly, homebuilders and high-yield credit was flashing some early-warning signals... with S&P 500 futures hovering back at VWAP, the noise from the rest of the risk-asset complex suggest there is some more downside for stocks here.

 

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ghostfaceinvestah's picture

The employment report said that mortgage companies added 3,000 employees last month.  that is going to reverse, big time, next month.

Divided States of America's picture

Yup, was just going to say.....man, we feel pretty old here guys...but we are still here and the central banks are still kicking the can down the road almost FOUR FUCKIN YEARS later!

flacon's picture

Didn't ZH recommend 3x HYG and -1x SPY just the other day (to arb the 9 sigma difference)? Ouch. I made some good money shorting GDX and I used some profits to short JPM. 

decon's picture

Good to see Ghost posting, yep, we got a 4 year anniversary coming up. I wonder how many others there are of this vintage left?

Really learned a lot about the world in those 4 years thanks to ZH and learned a lot about myself as well.

ZerOhead's picture

Not a chance of it reversing next month... they will probably have to hire even more people to take all those keys out of the envelopes that are going to be mailed in...

prains's picture

alberta added 19,000 new jobs last month, all time record in its history but still saw a 0.4% unemployment increase because of new residents moving in were greater.

i need 4 experienced framers for 6 months work can't find any

AlaricBalth's picture

All is not well everyday with these markets. The patient is terminal and the only thing keeping markets alive is Bernanke's life support.

Divided States of America's picture

I agree...but a zombie keeps lunging forward even though the soul is dead....we need to sever the head, Federal Reserve Head, Bernanke.

DeadFred's picture

The top is in. Every ramp exists solely as a means to off load positions at a higher price. They will all be faded.

nomorebuyins's picture

S&P is going to need a ton of Viagra for that whiskey dick, or maybe it should just pass out already.

orangegeek's picture

Philly Housing Index currently sitting at 192 - and is likely heading much lower.

 

http://bullandbearmash.com/chart/daily-philly-housing-index-shows-wave-c...

Dr. Engali's picture

That is one limp noodle there. It looks like it should have taken the blue pill.

SheepDog-One's picture

Smoke screens of all-is-well stawks is all they need anymore.

The Master's picture

This will be faded next week.  Rest assured.

Lady Heather...UNCLE's picture

Things will improve after 2017 with Hillary in charge. Those Clintons are good honest folk

Kayman's picture

Apparently you are too subtle. Honest Bill, the guy who shoe-horned China into the WTO so Walmart could accelerate the destructiono of middle America.

NOTW777's picture

look at TBT - either a double top @ 69.60 or blast off

fonzannoon's picture

tbt should be up more. we should be pushing 2.20% on the 10yr.

NOTW777's picture

good volume in May - most from May 22 - almost 8 million