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S&P Turns Red And Russell Tumbles As Europe Closes
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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But just look at those treasuries go!!!
"free markets" at work...
WTF?! On a Tuesday?
Oh, the humanity!
ES 1900......check
2014 GS bonuses secured.........check
muppets in queue.........check
Tylers: Kontratieff Waves are back in focus:
http://theeconomiccollapseblog.com/archives/if-economic-cycle-theorists-...
and
http://www.financialsense.com/contributors/christopher-quigley/kondratie...
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).
"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.
wicked pisssah!
that's not right. how can the price be going down? [/mortimer duke]
Bullish!
Fuckin terrorist attack. Only terrorists sell. And only Satan himself goes short.
S&P 500 New highs.
Russell 2000 New lower peak.
When they don't work together, it's usually a warning.
A warning of what? That HFT engines are working on one vs another?
That the broader indices are out of sync with each other.
Overall indicative of market nominal price instability.
give it 5 mins. and these pigs will have it green again!
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.
There has to be a bunch of sell orders at the 1900 level too...that was some peoples goal number...
They're gonna bust it to 2000.
Now it's time to gather up hot cash for the 3:30 non-manipulation ramp into close.
:::panic face:::
Liquidity Removal, Unwinding Stimulus, Normalization:
Be careful out there...they're draining the swamp
https://www.dropbox.com/s/evgy5802kxnhyk9/Swamp.jpg