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S&P Turns Red And Russell Tumbles As Europe Closes

Tyler Durden's picture




 

As Europe closes with a record high DAX and a 15 year high for the FTSE-100, it seems the weakness implied by USDJPY and bonds has caught up (or down) to US equities. After bagging the 1,900 level, the S&P 500 is now down on the day and while Trannies hold green, the Russell 2000 is getting slammed (-0.8%)... but it's Tuesday!!!

 

 

Who could have seen that coming...

 

Charts: Bloomberg

 

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Tue, 05/13/2014 - 11:49 | 4755137 LawsofPhysics
LawsofPhysics's picture

But just look at those treasuries go!!!

"free markets" at work...

Tue, 05/13/2014 - 11:55 | 4755163 cifo
cifo's picture

WTF?! On a Tuesday?

Tue, 05/13/2014 - 11:58 | 4755180 Schmuck Raker
Schmuck Raker's picture

Oh, the humanity!

Tue, 05/13/2014 - 12:00 | 4755188 spastic_colon
spastic_colon's picture

ES 1900......check

2014 GS bonuses secured.........check

muppets in queue.........check

 

Tue, 05/13/2014 - 12:09 | 4755214 CrashisOptimistic
CrashisOptimistic's picture

The horrendous retail sales report was maybe the most important economics report of the year to date.

It says about as loudly as anything can that weather was not the cause of eroding economic activity.  Other things are doing it.

That lights a fire under bonds, of course.

Why is the economy weakening?  QE (monetary stimulus) is ending.  The Sequester and tax increases have reduced the deficit (fiscal stimulus), and most likely the most important problem of all, oil looks like it will be over $100 as far as the eye can see, until it destroys oil consumption (economic activity).

Tue, 05/13/2014 - 14:16 | 4755785 LawsofPhysics
LawsofPhysics's picture

"QE (monetary stimulus) is ending." -  LMFAO!!

 

Right, just the same, can I see the balance sheet motherfucker?

Yes QE is bad, but not as destructive or inequitable as ZIRP or NIRP.

 

Tue, 05/13/2014 - 11:53 | 4755151 Obama_4_Dictator
Obama_4_Dictator's picture

wicked pisssah!

Tue, 05/13/2014 - 11:54 | 4755158 buzzsaw99
buzzsaw99's picture

that's not right. how can the price be going down? [/mortimer duke]

Tue, 05/13/2014 - 11:56 | 4755166 Jr. Mintz
Jr. Mintz's picture

Bullish!

Tue, 05/13/2014 - 12:10 | 4755233 FuzzyDunlop21
FuzzyDunlop21's picture

Fuckin terrorist attack. Only terrorists sell. And only Satan himself goes short.

Tue, 05/13/2014 - 11:55 | 4755165 Glasnost
Glasnost's picture

S&P 500 New highs.

Russell 2000 New lower peak.

When they don't work together, it's usually a warning. 

Tue, 05/13/2014 - 12:09 | 4755229 CrashisOptimistic
CrashisOptimistic's picture

A warning of what?  That HFT engines are working on one vs another?

Tue, 05/13/2014 - 12:18 | 4755269 Glasnost
Glasnost's picture

That the broader indices are out of sync with each other.

Overall indicative of market nominal price instability. 

Tue, 05/13/2014 - 11:59 | 4755184 PlusTic
PlusTic's picture

give it 5 mins. and these pigs will have it green again!

Tue, 05/13/2014 - 12:03 | 4755204 orangegeek
orangegeek's picture

But NY Fed POMO is 0.8B - a number you could pronounce in millions.

 

So there's no buyers if the Fed isn't buying / has run out of their daily allotment of toner.

 

This puppy will stay down.

Tue, 05/13/2014 - 12:12 | 4755246 youngman
youngman's picture

There has to be a bunch of sell orders at the 1900 level too...that was some peoples goal number...

Tue, 05/13/2014 - 12:59 | 4755442 Hongcha
Hongcha's picture

They're gonna bust it to 2000.  

Tue, 05/13/2014 - 13:27 | 4755575 SheepDog-One
SheepDog-One's picture

Now it's time to gather up hot cash for the 3:30 non-manipulation ramp into close.

Tue, 05/13/2014 - 13:38 | 4755632 the not so migh...
the not so mighty maximiza's picture

:::panic face:::

Tue, 05/13/2014 - 14:35 | 4755868 BullyBearish
BullyBearish's picture

Liquidity Removal, Unwinding Stimulus, Normalization:

Be careful out there...they're draining the swamp 

https://www.dropbox.com/s/evgy5802kxnhyk9/Swamp.jpg

 

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