VIX Slam Fails But Blue Chips Pop As High-Beta Drops

Tyler Durden's picture

Pre-open gold dump, USDJPY pump, check. Opening dump in USDJPY and stocks led by Momos and Biotechs, check. European close marks the bottom, check. EURJPY takes over and ramps stocks back up to highs, check. Fade into close, check. Today was an almost perfect echo of yesterday's market action with blue-chips benefitting from the weakness in Nasdaq and Russell high-beta honeys. Bonds were quite with very modest steepening. Gold and silver bounced off earlier lows but their losses mirror Copper's 1.7% rise on the week. The USD lost ground as Draghi's failed jawboning sparked EUR strength. VIX fell 1 vol to its lowest close in 2 weeks as a late-day VIX -slam failed to get SPX green post-FOMC.


EURJPY running the show into and beyond the European close - just like yesterday...


The Dow and Trannies are 'winning' on the week, S&P around unch, but high-beta leaders are lagging notably...


Whle the Dow remains red YTD, the S&P almost made it almost down to unch YTD again today. However, Post-FOMC, The Dow is leading...


Post-FOMC, homebuilders remain the laggards and financials (ahead of the CCAR) the leaders...(for now)...


Momos remain in trouble post-FOMC...


And Biotechs didn't exactly bounce strongly off their 100DMA again today...


VIX and stocks were in sync all day but a very late try to slam VIX appeared to fail...


and a close up on the idiocy at the seems 330RAMP CAPITAL is running out of power?


Copper regained (and then lost $300) in this morning's ramp and lcung to it all day. Gold and silver are losing on the week...


FX markets continue to play their calm-to-chaos game (though yesterday's spike in EUR is still a mystery) - todasy saw a drop in EUR as Draghi started then a big surge in EUR as the market continues to pressure him to do something instead of keep practicing open-mouth operations...


Treasuries are a mixed bag in a tight range today. 10Y and 2Y are unch on the week as 5s and 7s are higher and 30s lower in yield (though today saw modest steepening)...


Charts: Bloomberg

Bonus Chart: Today's miss on home sales just adds more problems for builders who have been underperforming post FOMC - but as @Not_Jim_Cramer notes, they have a long way to go if the data surprises are anything like reality...


Bonus Bonus Chart: PLUG +56% - that is all...

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DoChenRollingBearing's picture

Copper going up is good for Peru, so it´s all cool.  More money for Peru to buy our company´s bearings and all.

DavidC's picture

When does the effing market start reflecting reality? I was away from my computer around the London close sitting on a profit (yes, I know, more fool me) and came back to see the Dow up 100 points. On what?


beegle's picture

poluted air and a pig slughtered in the ukraine

DavidC's picture

Thanks beegle, that made me smile!


Serfs Up's picture

It's all useless noise.

If you are taking your cues from the ""markets"" you are listening to the voice over the speaker as you wait at the elevator transfer spot on the 78th floor of the South tower on 9/11 telling you everything is OK and to go to your desk...even as flaming papers swirl past the windows like snow from hell.

Good luck with that is all I am saying.

/whose voice was that anyways?  Did we ever find out?


pound the vix's picture

According to my realtor, there has never been a better time to buy a home!

Wonder why he is renting?

youngman's picture

He is renting because he has not sold on and made a commission in over a he can not afford has to be a lot of poor Real Estate Brokers out there...

The Most Interesting Frog in the World's picture


Yen Cross's picture

    This is Bloomturds reasoning for the markets today? U.S. Stocks Rise After Two-Day Drop on Confidence Data - Bloomberg

  As usual the macro numbers sucked ass and we get a 9 month high in consumer confidence. Do they just throw a dart at a chart that starts at 80 and that's the number?

  JFC we need a new name for "full retard".. maybe "double full retard" or something.

SheepDog-One's picture

Super-stamped triple full retard, no takies, no erasies.

youngman's picture

I think the IPO of Candy Crush will be the peak of this market..if they get it sold for 8 billion me that is the jumping of the shark for this market....8 billion in values for a stupid game.....sorry..I am not falling for it...

wmbz's picture

I agree but for millions of people these games are very high quality blow! There would many bridge jumpers without their digital distractions.

ebworthen's picture

Slish-slosh, slish-slosh.

Too much water in the bathtub.

The Most Interesting Frog in the World's picture


SheepDog-One's picture

So, basically it looks like lots of motion in the ocean but the boat is still sitting right in the same GPS location....hey I guess illusions are all most people need.

MrButtoMcFarty's picture

I'm no longer in any paper markets whatsoever......Hehe....I said "markets".