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Unrigged Market Soars On 3:30 PM Fundamental Bullish Catalyst

Tyler Durden's picture




 

The US open was enough of an event to decouple stocks (up) from USDJPY (down) but as we approached the crucial 330ET "fundamental" stocks had caught down to USDJPY weakness (worth noting that USDJPY tagged 102 in the pre-open and plunged). The 330 Ramp - JPY and VIX driven - was right on time getting S&P to VWAP and up to its 100DMA and Nasdaq back above 4000. Away from the roller-coaster ride in hope, faith, and BTFD charity in stocks, Treasuries leaked higher in yield all day (with 5Y underperforming and 30Y unch). The USD was bid (+0.3%) led by EUR weakness. USD strength pressured commodities but Gold was bid (closing above $1325 at 3-week highs).  All major equity indices remain red year-to-date (and negative from 3/19's FOMC). All "normal" and full of unriggedness.

V-shaped recovery on the 330 Fundamental...

 

Year-to-date, Stock indices all remain red...

 

S&P futures were ramped to VWAP...

 

By selling JPY and buying USD...

 

and selling the shit out of VIX...

 

Biotech bounced (as did Momos) closing just in the red...

 

Stocks appeared to play catch up to TSYs early weakness...

 

But credit markets were nothing like as exuberant about the desperate buying panic...

 

FX markets were volatile with the USD ending up 0.3% (on EUR weakness mostly)...

 

and USD strength weighed on commodities - except gold...

 

"Hanging on" seems to be new Bullish news...

 

Charts: Bloomberg

 

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Mon, 04/14/2014 - 16:07 | 4658023 HFBondsTrader
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Nanex will bring the truth and show us it was HFT's fault

Mon, 04/14/2014 - 16:22 | 4658087 redpill
redpill's picture

Move along, nothing to see here, the plunge protection team has the situation under control.  Keep buying mutual funds sheep.

Mon, 04/14/2014 - 16:42 | 4658197 max2205
max2205's picture

Is this all the Fed is good for.....hitting the buy button between 3pm and 3:30pm....what a joke but I'll take the money.....

Mon, 04/14/2014 - 17:36 | 4658391 GooseShtepping Moron
GooseShtepping Moron's picture

The epitaph for an era.

Mon, 04/14/2014 - 16:24 | 4658096 dow jones 20000
dow jones 20000's picture

at precisely 3:15 the chief algo-herder could be heard screaming:

"GO AT THROTTLE UP... BITCHEZZZZZ"

Mon, 04/14/2014 - 16:25 | 4658108 TaperProof
TaperProof's picture

Hhahaha, funniest headline ever Tylers

Mon, 04/14/2014 - 17:49 | 4658435 slaughterer
slaughterer's picture

Tax selling over: rally resumes tomorrow.  

Mon, 04/14/2014 - 16:10 | 4658024 HFBondsTrader
HFBondsTrader's picture

.

Mon, 04/14/2014 - 16:08 | 4658032 ebworthen
ebworthen's picture

When are they going to put banks of slot machines in the NYSE to complete the picture?

Mon, 04/14/2014 - 16:37 | 4658164 Pareto
Pareto's picture

yeah...maybe a couple of black jack tables and a craps table, and Art Cashin could be pit boss.  "Money change 100 mother fuckers."

Mon, 04/14/2014 - 17:42 | 4658388 TheRideNeverEnds
TheRideNeverEnds's picture

Hey man, this isn't gambling, its the layup of the century!  Double bottom today, higher lows, FED put, green chutes, all news is good news, just but the dip; the bottom is in.  

 

1900 here we come!

Mon, 04/14/2014 - 16:14 | 4658034 Dr. Engali
Dr. Engali's picture

The blood moon tonight is a precursor to blood on the streets tomorrow. I know because the chicken bones and a televangelist told me.

Mon, 04/14/2014 - 16:21 | 4658083 john39
john39's picture

odd how different cultures put different spins on the meaning of such 'signs in the heavens'...   for those who find the john hagee talmudic doom interpretation lacking,  a different take here:

http://www.zengardner.com/eclipse-vortex-cardinal-cross-april-2014/

Mon, 04/14/2014 - 16:29 | 4658112 Xibalba
Xibalba's picture

"there are none so blind as those who refuse to see." "Allah has bought from the Umma-the true believers of Islam-their selves and their substance in return for Paradise; they fight in the way of Allah, killing and being killed. Their promise is written in the blood of the moon." -From the Koran, chap. 9, v. 112

Mon, 04/14/2014 - 16:46 | 4658146 john39
john39's picture

your reference does not seem accurate.  see:

 "9:112 They who turn (to Allah), who serve (Him), who praise (Him), who fast, who bow down, who prostrate themselves, who enjoin what is good and forbid what is evil, and who keep the limits of Allah; and give good news to the believers."

let me guess, you got that quote from Dick Cheney?

Mon, 04/14/2014 - 17:30 | 4658362 Xibalba
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Guess I don't need to worry about it then.  

Mon, 04/14/2014 - 17:34 | 4658384 HardlyZero
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Thought tomorrow was "Takoff to the moon Tuesday".  Unless there is some badly angled Feng Shui or Kiev Carma out there, along with the bad GM momo moto mojo.

Mon, 04/14/2014 - 18:26 | 4658523 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Is the chapter and verse wrong? Or is what posted a lie and does not appear in the Koran. Honest question.

Mon, 04/14/2014 - 16:32 | 4658143 SheepDog-One
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I like the modern scientific approach to explaining things like a 'blood moon', perfectly natural explained phenomena.

Mon, 04/14/2014 - 16:38 | 4658169 john39
john39's picture

sure, but it certainly is true that those in power often time their actions using astrology.  not the dimestore youtube variety...  and i don't think they are doing this based on superstition, but what do i know...

Mon, 04/14/2014 - 16:31 | 4658137 Uber Vandal
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The problem is, that if enough people believe something, it may come to pass.

Ref: Self fulfilling prophecy.

Or, have enough "true believers" in positions of power, they can pull the strings, move the levers, push the buttons, and connect the god damn dots to make things come to pass.

Ref: Reset Button

Mon, 04/14/2014 - 16:48 | 4658231 john39
john39's picture

>if enough people believe something

the point of mass mind control?  recall that in physics experiments, observing the experiment changes the outcome...  a very inconvenient fact that science likes the gloss over.

Mon, 04/14/2014 - 17:40 | 4658398 LooseLee
LooseLee's picture

Still waiting for the POS to transcendentally meditate the economy to be fixed---cold day in hell when that happens!

Mon, 04/14/2014 - 20:21 | 4658925 BringOnTheAsteroid
BringOnTheAsteroid's picture

Actually, the problem is a vast majority of human beings really are dumb cunts. Arguing about which bible quotes are real is so fucking stupid because all bible quotes are founded on hundreds if not thousands of revisions throughout history. The exact combination of words that we've just ended up with matters not a fucking jot. 

The world is fucking insane, we are barely able to drag ourselves out of the dark ages of mysticism and superstition, yes, we collectively really are that stupid. Blood moons, for fucks sakes, I'll give blood moons. 

Mon, 04/14/2014 - 16:10 | 4658041 Cursive
Cursive's picture

Son of a bitch that was crazy.  Program trading, what a world....

Mon, 04/14/2014 - 16:12 | 4658050 101 years and c...
101 years and counting's picture

great environment for the big boys to dump into.

Mon, 04/14/2014 - 16:19 | 4658073 McMolotov
McMolotov's picture

I guess now I should have posted this on the Nasdaq article:

http://yeeeeeeeeeeeeeees.com/

Mon, 04/14/2014 - 16:12 | 4658046 dirtyfiles
dirtyfiles's picture

that exit light less visible every day...

Mon, 04/14/2014 - 16:16 | 4658049 fonzannoon
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Tyler, the next time the market barfs, please post a thread about how the market snapped back massively. Do this before it snaps back. Either you will mush the snap back, or you will look like a genius. 

I also think you should start having your advertisers sponser "today's market barf". For example "I don't always drink beer when the market barfs, but when I do, I drink dos equis". Have these ads running when the nasdaq is coughing up 50 points in 5 minutes. This is a new market, and you should embrace it.

Mon, 04/14/2014 - 16:19 | 4658076 Dr. Engali
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I don't always BTFD but when I do the market barfs.

Mon, 04/14/2014 - 16:24 | 4658102 McMolotov
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I don't always barf, but when I do, it's because of the market or an Obama press conference.

Mon, 04/14/2014 - 16:15 | 4658056 SheepDog-One
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Right at 3:30 everything suddenly turned SO bullshit! Oops meant bullish of course.

Mon, 04/14/2014 - 16:16 | 4658062 oklaboy
oklaboy's picture

Ray Charles saw this one coming

Mon, 04/14/2014 - 16:22 | 4658090 JustObserving
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The markets have beeen rigged for years now.  My goldfish predicted this two years ago.

Mon, 04/14/2014 - 16:16 | 4658064 LawsofPhysics
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What does credit have to say?

Mon, 04/14/2014 - 16:38 | 4658170 Dr. Engali
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It says Spanish bonds are trading on par with U.S bonds . In other words, credit is just as fucked.

Mon, 04/14/2014 - 16:16 | 4658066 Freedumb
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Around 3:15 must be when they bring out the cocktail cart, hookers and coke at all the HFT firms

Mon, 04/14/2014 - 16:16 | 4658067 jubber
jubber's picture

That bollox move also spiked the European Indexes as usual taking their shorts out as well , DAX yanked up 50 points there, ...what a crock of shit this all is.

Mon, 04/14/2014 - 16:18 | 4658071 BlueStreet
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R2K bouncing off the 200 day could have played a part in that bullshit.  Only a matter of time till it breaks.  

Mon, 04/14/2014 - 17:46 | 4658395 HardlyZero
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If Russell keeps dragging it and whipping it around that way it will definitely break off, sooner or later.

History:

Even the Leaning Tower of Pisa needs a steel rod and new foundations these days to stay erect at that angle.

By the way it took 200 years to build, and was completed in 1372.  The tower has stood as a testament to all ramps and impossible algo's.  The Leaning Tower has stood for 642 years.

The modern day 3:30 Ramp is building a similar following and stamina, and may become an 8th Wonder to the World.   Today' ramp was Guinness quality. 

Mon, 04/14/2014 - 19:42 | 4658785 lcs
lcs's picture

There is no question the 200 day was the catalyst for both the move down and the rebound up.  It is just algo trading and none of this conspiracy bulls**t about rigged markets. 

Mon, 04/14/2014 - 16:19 | 4658079 Kilgore Trout
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riggedy-diggedy-dog

Mon, 04/14/2014 - 16:21 | 4658082 Cannon Fodder
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Ok, I give up... who has a recommendation on how a retailer can play the 3:30 rebound?

Buy the QQQ at 3:28 and sell market on close?

Mon, 04/14/2014 - 16:23 | 4658095 fonzannoon
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I would recommend that when you are just about to hit the submit button, go for a drive instead. Halfway through your drive open your window and throw a grand out of it.

Mon, 04/14/2014 - 16:24 | 4658100 Cannon Fodder
Cannon Fodder's picture

Thanks, I'll try that tomorrow... probably just as effective....

Mon, 04/14/2014 - 16:29 | 4658128 TideFighter
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damnit fonz, I just lost another Diet Sierra Mist (thru nose) 

Mon, 04/14/2014 - 17:35 | 4658387 Pareto
Pareto's picture

lol.  why are you drinking that shit man? it'll kill ya.

Mon, 04/14/2014 - 16:33 | 4658148 icanhasbailout
icanhasbailout's picture

wiretap some offices at FRBNY

Mon, 04/14/2014 - 16:48 | 4658229 scubapro
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long at 330pm; short at 1130am the next day

Mon, 04/14/2014 - 16:50 | 4658237 SmilinJoeFizzion
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inverse Vix product- They pound the Vix like a piece of veal from 3:30 into the close-   Thats my 2 cents

Mon, 04/14/2014 - 16:23 | 4658098 Yen Cross
Yen Cross's picture

  Those reverse repo numbers are sure elevated still. Looks like the N.Y.Fed did a little cosmetic work on their webpage.

 http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE

Mon, 04/14/2014 - 16:29 | 4658127 LawsofPhysics
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Does it really matter anymore?  Especially since everyone is accepting anything as collateral and pricing it however they like?

Seriously, does it?  I think not.

Mon, 04/14/2014 - 16:33 | 4658150 Pareto
Pareto's picture

not a fucking bit Laws.

Mon, 04/14/2014 - 16:40 | 4658183 Yen Cross
Yen Cross's picture

  Yea, I can't wait until this whole fucking ponzi comes crashing down. When all that rehypothecated collateral gets called in the bankers will start eating eachother to save their own asses.

  I'd imagine it will be like watching a 1000 starving Ethiopians fight over a kernel of rice at that point...

Mon, 04/14/2014 - 17:48 | 4658433 LooseLee
LooseLee's picture

Yup. And then the MSM cheerleaders and lobbyists start getting picked-off as they exist the building. It will be a GREAT show!

Mon, 04/14/2014 - 16:29 | 4658109 ebworthen
ebworthen's picture

O.T. - sort of.  My local post office received ZERO paper tax forms or instructions this year from the I.R.S.

In other words, digital capture.  I.R.A.'s/401K's, Pensions, and "myRA "are another piece.

The next will be to get rid of paper and coin currency; all your assets trapped in the cloud.

All your money, savings, assets, and transactions digitally tracked and captured.

All your chips belong to the casino.

Mon, 04/14/2014 - 16:31 | 4658136 LawsofPhysics
LawsofPhysics's picture

Well, thats the plan, but based on the action I see in my neck of the woods, trading in all kinds of physical things is increasing (physical paper included).

Mon, 04/14/2014 - 18:50 | 4658598 Ban KKiller
Ban KKiller's picture

Black market is growing, Why? It is more honest. 

Get off the books! ( you know, the "drop out" part)

Mon, 04/14/2014 - 16:35 | 4658155 TideFighter
TideFighter's picture

If the Amish weren't so damed religious, I'd join their cult.

Mon, 04/14/2014 - 16:40 | 4658182 ParkAveFlasher
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Non-convertible currency always belongs to the casino.  You possibly pay a premium to hold it (inflation) in the time between you "earning" it (which is a funny term for exchanging labor or goods or property for it) and you "spending" it (which is completing the arbitrated trade of money for different goods or services or property). 

Mon, 04/14/2014 - 17:57 | 4658456 LooseLee
LooseLee's picture

And when they deem it necessary they cut you off from buying FOOD. If we let this happen we deserve exactly what we get. My gold & silver is not known by them and never will be...

Mon, 04/14/2014 - 16:32 | 4658140 Quus Ant
Quus Ant's picture

For a few dollars more...

Mon, 04/14/2014 - 16:37 | 4658161 Quus Ant
Quus Ant's picture

The sequel to "A Fistful of Bitcoin"

Mon, 04/14/2014 - 16:33 | 4658144 icanhasbailout
icanhasbailout's picture

#FreeKevinHenry

Mon, 04/14/2014 - 16:38 | 4658151 what's that smell
what's that smell's picture

i've seen this movie before: 330 BTFD.

biologicals might get bored but machines kinda do the same thing over and over and over and

 

 

Mon, 04/14/2014 - 17:58 | 4658459 LooseLee
LooseLee's picture

Machines must be programmed by humans---in this case, PINKO COMMIES!

Mon, 04/14/2014 - 16:38 | 4658167 Spungo
Spungo's picture

I don't understand how the USDJPY could ever possibly go down. What crazy fucker out there wants to be caught dead with Japanese yen? Kuroda and Abe have pretty much stated they have every intention of destroying that currency and causing hyperinflation.

Mon, 04/14/2014 - 17:57 | 4658457 TaperProof
TaperProof's picture

..and thats what they are doing to the dollar too.

Mon, 04/14/2014 - 16:39 | 4658172 RockyR
RockyR's picture

this one looks pretty obvious to me. seems like an awfully small pullback to bring out such dramatic "support".

Mon, 04/14/2014 - 16:41 | 4658187 BullyBearish
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It will go down WHEN WE SAY SO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Mon, 04/14/2014 - 16:43 | 4658198 Caracalla
Caracalla's picture

If there are two sure things in life (like death and taxes), it's the pre-open ramp of the USDJPY and the 3:30 p.m. VIX crush/stock market rally.  Lol to everyone that thought we would end red today after the afternoon swoon.  BTFD is the only way to go!

Mon, 04/14/2014 - 16:46 | 4658214 Caracalla
Caracalla's picture

Plus, with the VIX and SPY finishing back within their Bollinger Bands today after going outside late last week, the market now has a strong buy signal.  Now through the end of April, BTFD or else get torched.

Mon, 04/14/2014 - 16:55 | 4658258 Yen Cross
Yen Cross's picture

   Japan is still considered a surplus economy, and the older generation saves a shitload of yen in KAMPO. ( the postal system) It really is getting to be a joke though, and I supect Japans days as a risk safe haven are drawing to an end.

 This is the monthly chart of usd/jpy, and you can see it's setting up tp be an outside bearish month. Additionally usd/jpy is overbought on the monthly chart shown in the RSI and parabolic SAR line. It goes lower before higher IMHO.

  http://i.imgur.com/Q78Ar81.png

Mon, 04/14/2014 - 16:57 | 4658264 Caracalla
Caracalla's picture

I agree that the Yen weakens soon and I expect U.S> stocks will suffer a tremendous Sell in May and Go Away, but until then, there is plenty of money to be made.  I expect we will approach or exceed ATHs before we see Sell in May

Mon, 04/14/2014 - 18:01 | 4658466 LooseLee
LooseLee's picture

Are you a card carrying member of TPTB? If yes, you're on the 'list'...

Mon, 04/14/2014 - 18:13 | 4658488 bulldung
bulldung's picture

Maybe now we'll get some more BTFD cartoons, they were very funny.

Mon, 04/14/2014 - 16:45 | 4658210 venturen
venturen's picture

Smoke meet Mirror

Mon, 04/14/2014 - 16:56 | 4658262 Piranha
Piranha's picture

im happy the HFT algos are back, it feels so much safer

Mon, 04/14/2014 - 17:00 | 4658282 monopoly
monopoly's picture

This is all so absurd. And it never ends. 

Mon, 04/14/2014 - 17:02 | 4658288 gatorengineer
gatorengineer's picture

it launchet at 3:14...15 pts straight up 45 minutes.......  No news at all......  Ho Li Fuk.

Mon, 04/14/2014 - 17:26 | 4658357 Rising Sun
Rising Sun's picture

Tyler - this would be funnier if you posted it at 800a this morning.

 

You could entitle the article "the 3pm fuckshot" or something more vanilla like "fuck you Janet Yellen!!!"

Mon, 04/14/2014 - 17:47 | 4658425 Atomizer
Atomizer's picture

At 3:00 AM, the blood moon will cock more loaded guns. The idiots running the theft ring will find new temporary protection to serve. At the end of the day, they will be shot to death.

 

 

 

 

Mon, 04/14/2014 - 18:18 | 4658495 HardlyZero
HardlyZero's picture

It was so forceful and perfect, I bet they borrowed some of the Tuesday ramp for today's Amazing Monday Ramp (it may be remembered in coming years).

So that may make for a flat Tuesday ?   Could Aunt Yellen have no dry powder for tomorrow's rampage ?

Was the week's POMO allotment  all spent today in one wild omni-directional discharge ?

Mon, 04/14/2014 - 18:48 | 4658590 Ban KKiller
Ban KKiller's picture

Chart porn makes me want to spurt! Especially at 3:45.

Mon, 04/14/2014 - 18:53 | 4658613 Ban KKiller
Ban KKiller's picture

http://managua.craigslist.org/reo/4364750856.html   You know, get away.

I liked Nicaragua. Had lunch with Snowden. 

Mon, 04/14/2014 - 21:54 | 4659228 AdvancingTime
AdvancingTime's picture

Over the years we have witnessed the type of market reversal the big banks supported by the Fed can generate with a concerted effort to buy S&P 500 index futures at crucial support points late in the day. This has proved more than enough to turn the markets from red to green in the blink of an eye. Note; this is the reason I caution bears to hold back on their celebrations. More on this in the article below.

http://brucewilds.blogspot.com/2014/04/bears-have-little-reason-for-conf...

Tue, 04/15/2014 - 07:05 | 4659904 Bernoulli
Bernoulli's picture

Why always at 3:30 pm? And why does nobody else talk about it other than ZH? This is quite weird...

Is anybody keeping track how many times this has been happening?

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