Selloffnado: Perfect Macro Storm Clobbers Stocks
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)...
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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