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 close...it 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...