Dow Loses 17,000; Catches Down To Bonds

Tyler Durden's picture

We warned Thursday that there was something wrong with the picture of the equity market's exuberance but it seems the July-4th-week-effect has run its course and equity markets - having read the jobs report over the weekend - have realized it is anything but strong. The Dow just lost 17,000 (however briefly) and equities are catching down to Treasury yield's drop as USDJPY loses 102.00.


Dow loses 17k...


as Stocks catch down to bonds...


Charts: Bloomberg

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IridiumRebel's picture


lordylord's picture

Under 17,000?   Americans are still too hung over from celebrating their (illusion of) freedom to care.   Have fun playing the ponies, I mean the markets.  

Obchelli's picture

ZH Jinxed this again over 17000 and rising....


They will make s&p 2000 and dow 17150 in accordance

IridiumRebel's picture


101 years and counting's picture

dont worry. that fat pig will be printing 3 billion in the next hour to juice stocks.

Headbanger's picture

Moar like bend over cause the Fed's got to rescue the dollar from becoming worthless now

Kaiser Sousa's picture

hope u all r enjoying the hit on the only 2 forms of real money today...
starting with the all to familiar ATTACK at exactly 2am this morning when someone (guess, guess) dropped Silver off the cliff to get it below - wait for it.....$21


Soul Glow's picture

London's burning....I wonder how many ounces they have left to sell.

Kaiser Sousa's picture

none...thats why they do what they get me and u to sell or stop buyin'...
but, once again - "they just fucked up..."
cause i aint stoppin' the stackin....

Devotional's picture

<-- not this shit again.

Dr. Engali's picture

It will get it back. See you at 18,000.

NoDebt's picture

I just checked the back closet for the Dow 20,000 hats I ordered last year.  Still sitting there.  Waiting.  Just waiting.


lordylord's picture

"I just checked the back closet for the Dow 20,000 hats I ordered last year.  Still sitting there.  Waiting.  Just waiting."

That's OK.  Just take a zero off the end and they might be usable some day soon.

NoDebt's picture

I have a separate box of hats for that.

GrinandBearit's picture

Another ZH contrary post?

Now watch it reverse.

BobTheSlob's picture

LOL...yep back up above 17,000....screaming up in fact!

NoDebt's picture

At least as reliable a phenomenon as the morning PM slam-down.

BobTheSlob's picture

Look at the bright side: tomorrow is TUESDAY!!!

Keltner Channel Surf's picture

'twould be admirable, and healthy, if we'd see a post-10:15 leg of this "selloff" in the face of today's $3B POMO, but given naive shorts bruised from last week's vacation levitation likely got in a few minutes late today, I can't imagine the machines won't now torture them with a QE bounce til at least 11.  We'll see ...

SheepDog-One's picture

I don't belive there's some group of 'naive' yetl ultra wealthy shorts out there who just keep lining up to get raped weekly since DOW 8,000..nah 'the shorts' are the Fed itself.

Keltner Channel Surf's picture

Absolutely agree.  By "naive" I meant smaller, less experienced traders not knowing better than to short the day before a summer holiday.  Their tight stops can lead to strong days with virtually no volume, as we saw.  

Regarding the "torture", it seemed to come too quickly in one 2-min bar, more like a selling vacuum from shorts waiting to re-load than POMO wagon-riders, so I went against my own advice and opened my 2nd Russell short at 10:20, hoping to ride the bull past lunchtime.  Perhaps foolish of me before POMO ends, but I have a strange feeling we may see a smattering of actual price "discovery" today -- that is, until the 3:28 pm VIX Vapor-Rub.

buzzsaw99's picture

POMO a-RIG-ato mr. ROBOTo

TheRideNeverEnds's picture

buy dip : free money

Dr. Engali's picture

buy dip : free currency


There fixed that for you.

MayIMommaDogFace2theBananaPatch's picture

I thought it was off 17000 points!  I guess have to wait for another day.

Ness.'s picture

Yet another bottom call for Tyler.  *golf clap*

SheepDog-One's picture

Had to have markets look good for sheeple holiday weekend or else they might not spend.