"Markets In Turmoil" S&P 500 Loses 'Crucial' 2,000 Level As Bond Yields Slump

Tyler Durden's picture

Good news was bad news for stocks (and great news for bonds) today as GDP's best sent stocks reeling early on, only to ramp back magically into the European close. For the next 4 hours, the S&P 500 traded in a 1.5 point range. While stocks dumped and pumped, Treasury yields went only on direction, lower (30Y -3bps today and -8bps on the week). FX markets were less chaotic than yesterday with early EUR weakness leaking back as the US day rolled on (USD -0.15% on the week). Silver, gold, and oil rose on the day (though well off spike highs during the EU session as Russia 'invasion' headlines hit). Copper tumbled the most in over 4 months. While equity markets closed modestly lower (Trannies red on the week), VIX and Credit markets weakened somewhat further.

UPDATE: Once cash markets closed, futures surged with S&P pushing up to unchanged to yesterday's cash close...


Cash equity indices on the day - once again dump and pump into EU close.. then tread water in a very narrow range for the rest of the day...


Trannies remain red on the week but Russell back off its exuberance...


As Futures managed to get back to pre-"Invasion" headline levels... before losing them into the close...


But "most shorted" stocks did not get squeezed...yet...


Bonds and stocks are both bid still...


Treasuries were not buying the low volume lift off in stocks...


Credit... that is all.


FX markets were less crazy than yesterday... but USD remains lower on the week...


Gold, silver, and oil recoupled at around a 1% gain on the week...


As Copper tumbled the most in 4 months...


And Silver ripped and dipped but held some 'invasion' gains...


Charts: Bloomberg

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For those who did not understand - "markets in turmoil" is sarcasm.... as even CNBC said "on this unusual 'down' day for stocks" we thought it appropriate.

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jubber's picture

Dow Jokes 17100  LOL

zaphod's picture

"Markets in Turmoil"

Jeez, what are they going to say when the S&P breaks 700 again....

disabledvet's picture

I'm short Jessica Alba!

I hate to say that...but it's true!
I am really, really short!

BeanusCountus's picture

Something about "Trannies are red" makes me very uncomfortable. Stocks notwithstanding.

Godisanhftbot's picture

 change the headline to read, 'Shorts lose more money trying to time a crash"

huggy_in_london's picture

Thing is... you saw a couple weeks ago, and you saw this morning that very soon there will be one headline that sends this down 40 or 50 handles.

Shorts will make their money in the space of a few days imo.  Meanwhile, longs continue to pick up the pennies in front of what is likely to be a very large steamroller.  At these levels in stocks its a dangerous game.

Market Rage's picture

The shorts are right this time.  Check back in a week.  

hobopants's picture

Needs more turmoil.

firewire888's picture

hardly in turmoil, futures unchanged for day and above 2000 ah

Kilgore Trout's picture

I was thinking the "Markets in Turmoil" thing was meant to be a little snarky. Subtlety is often lost on me, however.

youngman's picture

The copper down trade is wierd...and the big miners were all down today....I guess more proof the world is slowing down....

NoDebt's picture

"When the world is running down, you make the best of what's still around"

Alcohol helps a little.  Some tasty tunes (like The Police, for instance), and, of course, some friends or at least a loyal dog.

Oh, and guns.  If you live in an area you can shoot right from your front porch.

centerline's picture

Shooting from your front porch is something that is likely coming to all areas soon enough.

ThisIsBob's picture

Anybody I can see from my front porch is trespassing, so they've got a real big problem right there.

huggy_in_london's picture

AUD up on the day also...  wierd also  (scratch below the capex numbers and they were rubbish)

NOTaREALmerican's picture

DowBuck at 17k+ still buys allot of bread.

disabledvet's picture

Give me dividend or give me death!

centerline's picture

(heading into bunker now)....



Fuku Ben's picture

The geo-engineered sky is falling!

Quick, let the Fed prop it up

disabledvet's picture

I thought it was called "terra forming"...

JOHNICON's picture

I love how a loss of 0.17% for the spoos is "the market in turmoil."  We're such pussies.

NoDebt's picture

But this could be "the big one", John.  This could be the first little tremor of the largest earthquake ever to hit the world's financial markets.  We could all be dead by Labor Day weekend.  This is serious stuff.

Recommendation:  get under your bed and stay there.  That's where I've been for the last 5 years, and look how well I've turned out!

SheepDog-One's picture

They absolutely could not tolerate a -.17 close to stand, immediately recovered it on the close. For fucks sake.

tommylicious's picture

Turmoil.  Buy 'em.

SheepDog-One's picture

Any hint of red in any index is now 'turmoil'.....for fucks sake.

RattNRoll's picture

4 hrs of 1.5 point moves.....algos stuck

RiskyBidness's picture

Boy that gap between the 30y yield and the S&P is bigger than the gap between Michael Strahans front teeth!!

SheepDog-One's picture

It was quite easy to fix, all they had to do was close markets and then S&P went back over 2000....so simple.

disabledvet's picture

Meant to say S&P 2000...not Dow 20,000...of course at this point I'll believe anything save for "buying protection."

Long Talking Points!

We will will ourselves to recovery! It will be fanatastical!

blu's picture

All this bad news war ebola whatever and that's the best they can manage? Buncha slackers. Why when I was a kid, we had bad news days like these, we were good for 2% up on the day or GTFO.


CHX's picture

there ain't no turmoil round here

SheepDog-One's picture

S&P looks primed to easily beat the next 100 point gain record during Sept. Full retard on steroids.

thismarketisrigged's picture

this market is a fucking joke, and a boring one at this point.


they just keep making up fake ukraine headlines, so that they have another excuse to pump this market up another 50 s&p points when it all good again, even though the bad has never been factored in.


these bankers must fucking pay already, hang these fucking bastards

Bear's picture

Markets in Turmoil?

Looks quite normal to me ... ES at 1999 NQ at 4075 (3 pts from all time high) ... this is not Turmoil, except for the emotional state of the Bear

TheRideNeverEnds's picture

They are panic buying futures into the close and rightly so; today may be your last chance to get some S&Ps with a 19 handle on them.


Take a picture, you may never see them at these low low prices ever again.

Squid Viscous's picture

just bot SPY calls, think they will keep it here, or higher until Alibaba, and then Rushahoma...

Yen Cross's picture

  The after hour CFD's spiked higher than the losses today in ES, NDAQ, and RUT. What a fucking joke!

     Dow 30    17,115.00    17,079.57    17,115.00    17,087.00   ( +35.43)    +0.21%    21:15:01
     S&P 500    2,001.60    1,996.74    2,001.60    1,998.10    (+4.86)    +0.24%    21:14:11
     Nasdaq 100    4,076.10    4,066.27    4,076.10    4,067.70    (+9.83)    +0.24%    21:15:01

Squid Viscous's picture

Tyler please keep posting the "divergence" between stocks and 30 yr, fucking comical ... how can I arb it? would now be a good time to "jump in"...lol

Keltner Channel Surf's picture

'Markets in Tinfoil' - stays lukewarm indefinitely, but never really gets hot or cold . . .

Miggy's picture

Retracted. I am out of the market.

John 3:16

MeelionDollerBogus's picture

13.70 on (tsx) HVU, 200.14 for SPY, 256.4956 = HVU1/10.55 x SPY
256.85 = trend

When SPY drops...
190 24.06
180 42.56
150 291.31
130 1318.31
100 20995.17
90 $63,805.92

Who knows how low it can go once rigged so all the big players are short & the sheeple are long, but, those are some fine high-climbing numbers for HVU (10.55x inverse on the scatterplot trend).

Given the variability of the relationship even a small bounce the wrong way with SPY, S&P500, Dow, is a much bigger bump with HVU,UVXY,VXX, etc., so if that last value ends up as $38,844 I wouldn't be surprised (x 0.6088 or -39% of projection)