Selling Scramble Becomes Buying Panic But The S&P/Dow Fail To Hold April Gains

Tyler Durden's picture

Owners of high-growth, high-beta stocks could not find a buyer for any of their crap today some mid-afternoon shenanigans between AUDJPY, VIX, and more utterly useless Russian headlines meant those same owners of high-growth, high-beta stocks were beating buyers away with a shitty stick. Pandora is a great example of the chaos (today's swings down 2%, up 4%, down 11%, then up 6%) as today's action in the so-called "market" was anything but human. The buying panic lifted the S&P, Dow, and Trannies briefly into the green for April but very late-day weakness left only the Trannies green for April.

"Most Shorted" stocks had fallen 2.5% (against a 0.5% drop in the S&P) when the squeezathon began and lifted them back to almost unch. The Russell 2000 tested below its 200DMA and was ramped back above it for the 4th time in the last 2 weeks. Away from the equity excremation, the USD ended the day unchange (JPY lower, SEK higher); Treasury yields dumped and pumped to end up 2-4bps on the day; and gold and silver rallied off spike lows early on but ended the day -0.6% or so. We just hope the desperate BTFWWIII'ers didn't use up all their BTFTuesday ammo...

Here is your "market" for the day...

 

Year-to-date, financials are now red as BofA's admission of maffematical micreance drags em lower

 

The Russell lost and regained its 200DMA once again.

(just look at how technically it trades, look at the perfect reversals...!)

 

Wild ride in momo muppetry...

 

And Biotechs bounced all too pefectly to unchanged only to be sold into the close...

 

And despite the oump, the S&P and Dow lost the gains for April

 

"Most shorted" were dumped and pumped...

 

AUDJPY was in charge though the overnight lift all started with a bounce off the crucial USDJPY 102.00 level...

 

As The VIX tail wagged the market dog once again...

 

Treasury yields roundtripped... with the long-end underperforming

 

Gold and Silver were smashed lower on a better than expected housing data print - then limped higher all day... Oil ended up on the day after early weakness

 

Charts: Bloomberg

Bonus Chart: A reminder of how great earnings season is going...