JPY Pump Failing As Momos Refuse To "Fight The Fed", Small Caps Slump On Yellen Warning

Tyler Durden's picture

Everyone knows that you "don't fight the Fed" - and sure enough, traders are selling momo, social media, and biotech stocks, sending the Russell 2000 ands Nasdaq to the lows of the day. Despite the best efforts of USDJPY momentum igniters - which has now shifted to tracking Treasury yields, pushing them modestly hgher. No bounce at all in broad US equity markets (though we expect the spin to be a rotation from growth to value once again very soon). Gold jumped on the dovishness but fell back to unch as did the USD. The S&P 500 is now in the red post-payrolls. Summing it all up - saying that these sectors are 'stretched' but the market is within 'norms' just won't cut it... Yellen is losing control and this level of specificity (and honesty) implies some degree of panic at the Fed.

 

 

with the momos in trouble...

 

Leaving The S&P in the red post payrolls...

 

Stocks are ignoring JPY's best efforts to pump asset highers... sending Yields higher...

 

Charts: Bloomberg

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coulous's picture

Has Yellen watched Santelli yesterday ?

thunderchief's picture

Gold and silver are cheap. So are the stocks.
Pass it on to these S&P fools, like the gospel.

Headbanger's picture

Sum Ting Wong!

I just gotta say it..

slaughterer's picture

"Gold jumped on the dovishness but fell back to unch as did the USD."  What a difference a few minutes make: check your screen for the latest on Gold.

GrinandBearit's picture

Watch it reverse now... nice job ZH

Headbanger's picture

Here we go again.

Can't happen now cause you just jinxed it.

Thems the rules.

LawsofPhysics's picture

Even some simple sheep getting tired of the "pissing down my back and telling me it raining" bullshit.

 

Simply put, people are looking around and simply asking, if we are see a "slow recovery", then why aren't interest rates "slowly rising"?

 

Moreover, why are unfunded liabilities still growing, despite increasing tax revenues?

 

tick tock.

Kaiser Sousa's picture

fucking joke...
all markets....
what do u do????
BUY MORE SILVER....

the country is doomed.

Kaiser Sousa's picture

fucking joke...
all markets....
what do u do????
BUY MORE SILVER....

the country is doomed.

Quinvarius's picture

No announcement of more money.  Stocks need more money.  Banks need more money.  Bubbles need more money.  Granny Yellen is smacking the hand reaching for the punchbowl.  The grim realization that the party is ending has come.

youngman's picture

The money will be coming from the countries that are going to try to get off the US dollar teat...they will start to dump their dollars by buying things and getting rid of them...stocks will be a part of that....

Quinvarius's picture

I think that already happened to the tune of 29 trillion in foreign fund and central banker money. 

AccreditedEYE's picture

With the Fed taking trading and now research away from banks, how they supposed to make a buck?

Ban KKiller's picture

Have to buy some chick feed today. Price up or down? 

By "chick feed" I don't mean bon bons and Skittles. 

WTFUD's picture

Janet's come a long way since that circus act; Should never have shaved that Islamic State type beard off IMO.

Also great to see all dem Senators giving her a good grilling. s/

thismarketisrigged's picture

guranteed we finish green today as ''investors'' buy every fucking dip possible.

 

yellen is a fucking cunt

DOT's picture

But, but,  but it's Tuesday- this can't be happening!

Godisanhftbot's picture

 hows that zero hedge gold woiken ut 4 ya?

economessed's picture

Hey Fed toadies (yes, I know you're watching),

Instead of propping-up J-Yell to talk about he equity markets much like Goldilocks would talk about the temperature of the porriage she was stealing, why don't you instruct her to declare what the prices should be.  If you want the S&P to be at 1,400, then just declare it.  We're all sick of the managed manipulation.  The game of whispers is stupid.  Since we can't have our free markets back, we'd appreciate some clarity about what the central planning committee has dictated.

ebworthen's picture

If I gave a school of kids 10 Trillion straws I'm sure they'd do something with them.

Look.  A straw tower.  Look.  A straw car.  Look.  A straw man, or is it a Woman?

Too bad people work for straws and need them to see the Doctor.