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Selloffnado: Perfect Macro Storm Clobbers Stocks

Tyler Durden's picture





 

An ugly day all around...

  • 30Y Treasury yield - biggest 4-day yield compression in 15 months
  • Dow Transports - biggest single-day loss in ~5 months (2nd worst in 11 months)
  • Nasdaq - 2nd worst day in 10 months
  • AAPL - worst day in 3 months (2nd worst day of 2013)
  • USDJPY - biggest gain in JPY in 10 weeks
  • WTI - biggest single-day gain in 10 months
  • Financials - worst day in 10 months

In no particular order: Weak (and strong) US data (good or bad news?), War, Taper (Treasuries 'special'), Debt Ceiling, German elections, New Fed Chairman, imploding developing markets and collapsing global currencies... (S&P 500's first close <100DMA in 2013) it is on...

 

Indices all down notably post-Kerry...

 

Sectors all slammed post-Kerry with Financials and Builders battered...

 

S&P 500 futures' second biggest volume-day in 2 months (no matter what Bob Pisani says...)

 

Gold and Silver are at 3.5 month highs

WTI at 17 month highs

 

USDJPY 97.00 was line in the sand - we'll see if it holds overnight..

 

VIX biggest jump in 2 months

 

Icahn will not be happy...

 

 

Market breadth was terribe with TRIN smashing higher to 2.7 (a reading of greater than 1.0 is typically seen as a bearish signal, since there's greater volume in the average down stock than the average up stock)...

 

Charts: Bloomberg

Bonus Chart: Gartman's latest and greatest not going so well...

 

Bonus Bonus Chart: Deja Vu?

 

Bonus Bonus Bonus Chart: But Stocks are cheap?

 

 


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