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
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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
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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
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The epitaph for an era.

Mon, 04/14/2014 - 16:24 | 4658096 dow jones 20000
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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
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Hhahaha, funniest headline ever Tylers

Mon, 04/14/2014 - 17:49 | 4658435 slaughterer
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Tax selling over: rally resumes tomorrow.  

Mon, 04/14/2014 - 16:10 | 4658024 HFBondsTrader
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.

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

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

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

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