Nasdaq Bloodbath Stops Dow Jones From Rising To New Record High

Tyler Durden's picture

Despite te best efforts of a late-day ramp, the total collapse in Biotechs and high-growth momentum stocks was just too much for the Dow to manage its first green close for 2014. A late-day panic-buying scramble, sparked by an initial bounce off Nasdaq's 50DMA, was leveraged higher at 330ET once again by a JPY-based momentum-ignition (whocouldanode?) and managed to get the Dow into positive territory for th eyear - but it failed by the close. Draghi's early promises sparked EUR weakness and that USD strength held all day. Oil prices surged back over $100 as gold and silver stabilized post-Draghi (after falling overnight). Treasuries rallied shortly after the US open (on weak data) and then ebbed back higher in yields (30Y -3bps).

 

Mission NOT! Accomplished for the Dow... (even as the Nasdaq was monkey-hammered)

 

VIX was manhandled lower to provide the impetus...

 

AUDJPY was in charge...

 

Th ramp in the S&P lifted futures perfectly to VWAP (nope, no machines here at all)...

 

But Biotechs and MoMo names were ugly...

 

Growth is now underperforming Value its most in 2014...

 

Bonds rallied post Draghi...which is agood thing or Spanish bonds would be 'less risky' than Treasuries!!!!

 

Oil prices surged after Draghi and gold and silver stopped falling (despite the USD strength)

 

FX markets saw most of their move around Draghi's press conference...

 

Charts: Bloomberg

Bonus Chart: This must be bullish, rght?