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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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Tue, 07/15/2014 - 10:43 | 4958940 coulous
coulous's picture

Has Yellen watched Santelli yesterday ?

Tue, 07/15/2014 - 10:46 | 4958952 thunderchief
thunderchief's picture

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

Tue, 07/15/2014 - 11:04 | 4959044 Headbanger
Headbanger's picture

Sum Ting Wong!

I just gotta say it..

Tue, 07/15/2014 - 11:03 | 4959026 slaughterer
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.

Tue, 07/15/2014 - 10:46 | 4958951 GrinandBearit
GrinandBearit's picture

Watch it reverse now... nice job ZH

Tue, 07/15/2014 - 11:03 | 4959028 Headbanger
Headbanger's picture

Here we go again.

Can't happen now cause you just jinxed it.

Thems the rules.

Tue, 07/15/2014 - 10:49 | 4958954 LawsofPhysics
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.

Tue, 07/15/2014 - 10:47 | 4958956 Kaiser Sousa
Kaiser Sousa's picture

fucking joke...
all markets....
what do u do????

the country is doomed.

Tue, 07/15/2014 - 10:47 | 4958958 Kaiser Sousa
Kaiser Sousa's picture

fucking joke...
all markets....
what do u do????

the country is doomed.

Tue, 07/15/2014 - 10:47 | 4958960 Quinvarius
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.

Tue, 07/15/2014 - 10:51 | 4958975 youngman
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....

Tue, 07/15/2014 - 10:57 | 4958997 Quinvarius
Quinvarius's picture

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

Tue, 07/15/2014 - 10:48 | 4958961 AccreditedEYE
AccreditedEYE's picture

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

Tue, 07/15/2014 - 10:52 | 4958979 Ban KKiller
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. 

Tue, 07/15/2014 - 10:53 | 4958980 WTFUD
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/

Tue, 07/15/2014 - 10:54 | 4958985 thismarketisrigged
thismarketisrigged's picture

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


yellen is a fucking cunt

Tue, 07/15/2014 - 10:59 | 4959005 DOT
DOT's picture

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

Tue, 07/15/2014 - 11:01 | 4959011 Godisanhftbot
Godisanhftbot's picture

 hows that zero hedge gold woiken ut 4 ya?

Tue, 07/15/2014 - 11:07 | 4959063 economessed
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.

Tue, 07/15/2014 - 11:15 | 4959116 grunk
Tue, 07/15/2014 - 15:43 | 4960227 ebworthen
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.

Tue, 07/15/2014 - 16:29 | 4960409 Mr Giggles
Mr Giggles's picture



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