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Broken Market (Worse Than 2013 Nasdaq Blackout) Just Fails To Send S&P Back Over 2,000

Tyler Durden's picture




 

To 'prove' that the end of QE3 is not a negative for stocks and to 'confirm' the Fed's narrative that the economy is surging (despite all the unsustainable one-offs in the GDP print), algos are tearing stocks higher, targeting the crucial 2,000 S&P level... thanks to 2-week old headlines from Japan, a broken options market, and the NYSE unable to report trades... As Nanex notes "this is a bigger event than the 2013 market blackout"

Despite the best efforts the best they could manage was 1999.40 before the reality of a not-broken market kicked in...

 

Of course away from the broken equity markets things are not as exuberant...

 

*  *  *

So just as the market broke 2 weeks ago at the lows.. now it is breaking at the highs... to enable moar highs... PPT has become DTPT (down-tick prevention team)

 

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Thu, 10/30/2014 - 14:30 | 5394903 ekm1
ekm1's picture

No media coverage, none.

Media fully controlled.

Thu, 10/30/2014 - 14:34 | 5394917 Bloppy
Bloppy's picture

Wonder why Zero Hedge has so many readers? THIS is why - there's nowhere else to turn.

 

Elsewhere- NYT worries the bumpkins are taking over America! This is not a joke:

http://tinyurl.com/nzfc3or

Thu, 10/30/2014 - 14:36 | 5394930 ShrNfr
ShrNfr's picture

Actually, I noticed the break when the spreads opened up because the NYSE was no longer in some thin stocks I trade. Unfortunately, when I threw my line into the waters, no fish bit at my asks.

Thu, 10/30/2014 - 14:39 | 5394943 NoDebt
NoDebt's picture

We should really do this more often.  

Thu, 10/30/2014 - 14:43 | 5394957 Divided States ...
Divided States of America's picture

Ekm, one question....and WHO OWNS the MSM, and WHO OWNS Wall Street??? and WHO OWNS the legal system???

Do you know WHO?? rhymes with WHO

btw, there are two tiers within this so called markets...one for the big boys and the other for us little fish...they can see our BUYS but we cant see their SELLS.

Thu, 10/30/2014 - 14:44 | 5394965 Manthong
Manthong's picture

Next Floor .. basement

Hygiene products, ream cream,  whips.. chains. , personal latex and leather goods .

Thu, 10/30/2014 - 14:55 | 5395019 Headbanger
Headbanger's picture

I never rode my Harley to the gun range cause that's what the Gator is for..

Duhhhh..

Thu, 10/30/2014 - 14:47 | 5394989 max2205
max2205's picture

Markets should crash when they break.....oh no, not now

 

Alice takes the pill that doesn't do anything at all.......

Thu, 10/30/2014 - 14:42 | 5394958 MeMadMax
MeMadMax's picture

Suck in as much of the ignorant masses as they can before the bomb goes off...

Thu, 10/30/2014 - 14:40 | 5394955 NotApplicable
NotApplicable's picture

Dont' worry, the SEC will be sure to investigate your stub quotes.

Thu, 10/30/2014 - 14:45 | 5394972 BlindMonkey
BlindMonkey's picture

Meanwhile, the bumpkins are fully aware that the future of the US belongs to the central americans.  They may not be able to articulate that demographics always win in the end, but they sure as hell know it.

Thu, 10/30/2014 - 15:20 | 5395141 Spastica Rex
Spastica Rex's picture

Mexico is in North America.

Thu, 10/30/2014 - 14:54 | 5395011 Groundhog Day
Groundhog Day's picture

ZH readers need a stress test.  We have to test our heart condition when the spx goes to 2500, 2750, 3000.  I think i will fail it and be deemed DOA

Thu, 10/30/2014 - 15:05 | 5395075 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Sometimes I like to stop and remind myself that the impossible (according to my understanding of reality) happens on a daily basis these days.

 

Imagine a purely hypothetical scenario where the largest bank in Spain fails just before the European Cental Bank runs a stress test and 26 banks fail.  

 

Quickly:  Imagine the market chaos this news creates.

 

See what I mean?

 

Im waiting for the Swiss to vote to repatriate their gold jsut to see Britain and Canada default.  Hell they could even tell the Swiss to "FUCK RIGHT OFF because Gold is so stupid we wont even give it back" and I bet the markets would just shrug.

 

Want to bet against me on that in the short term?  Really?

Thu, 10/30/2014 - 14:35 | 5394919 ShrNfr
ShrNfr's picture

Actually, it is the fact that they are too dense to understand what it means.

Thu, 10/30/2014 - 14:44 | 5394967 Dr. Richard Head
Dr. Richard Head's picture

But my company's 401k adviser said, "How can you turn down "free" money with the employer match?  HOW CAN YOU!?!?!?!"

Thu, 10/30/2014 - 14:59 | 5395034 SAT 800
SAT 800's picture

Ha Ha. Because, fuckhead I can buy Silver with the money I didn't "contribute". 

Thu, 10/30/2014 - 15:07 | 5395087 NotApplicable
NotApplicable's picture

My reply: "What's two times zero?"

Thu, 10/30/2014 - 15:08 | 5395096 I woke up
I woke up's picture

I'm with you, when it all tanks I'll walk in her office and say this is why

Thu, 10/30/2014 - 14:40 | 5394948 jcaz
jcaz's picture

Yep, funny how that works-  when it broke to the downside,  CNBC was peeing themselves to explain the issue,  but to the upside today?  Not a word......

Thu, 10/30/2014 - 14:42 | 5394954 NoDebt
Thu, 10/30/2014 - 14:45 | 5394974 Callz d Ballz
Callz d Ballz's picture

"markets normalize" .....comedy gold

Thu, 10/30/2014 - 14:46 | 5394980 disabledvet
disabledvet's picture

You seem like a good guy so let me set you straight.

When the dollar surges against both the yen and euro those wanting more of those dollars (Japan, Europe) head straight for Wall Street and start buying.

If you're short you can absolutley get a "Volkswagon scenario" where an otherwise stodgy and backward industrial conglomerate soars on the news that some clown and company has a massive short interest in what is, well..stodgy and backward. That short interest caused one of the greatest short squeezes in human history and a (former) billionaire to throw himself in front of a freight train once he was forced to cover.

And same goes for anyone in this market who has seen any price decline in any asset class other than commodities as an opportunity to "take it to the man."

What we have here simply is "the man taking it to you." In short...a short squeeze.  Nothing like 1999 however...

Thu, 10/30/2014 - 14:56 | 5395029 SAT 800
SAT 800's picture

They're squeezing me, but i'm tough and too stupid to quit; ie; Scottish. Seriously, a chart like this isn't any kind of healthy market; and they go down as fast or faster than they go up.

Thu, 10/30/2014 - 14:55 | 5395021 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Sequeing into that Schiff interview from a few days back I've always wondered about that moment when finance people have succeeded in creating a certain public image of prosperity and the glee with which they very loudly and publicly confront the "doomers who have been wrong about everything".

 

I think this moment may the key to understanding them and how they operate.  Everything they do is part of an elaborate long-con run on the public.  The "doomers" are (from their point of view) the weirdo narcs trying to ruin the living that the finance people worked very hard to get.

 

Even if we refuse to be seen on their side of the street, we must admit that they can be very effective for long periods of time. Think about the fat, balding verbally abusive drunk threatening his former highschool beauty queen wife that if she thinks she can do better, then she is so stupid that she is lucky he even puts up with her at all.  And back to him she goes...  

And so it is with the public always going back to the psycopaths of finance.  They need so badly to believe that someone is in control that they will take nearly any amount of abuse, even over decades.  You don't have to like it, but if you think you can get between the financiers and the public, then you have never known an abused wife.  Try as you might, you will only succeed in making the public believe that it is YOU who is the problem.  

I am very interested in this Swiss gold vote for this reason.  Not because "it" will ever be allowed to happen as the yes side envisions, but the propaganda coming from the SNB and the politicians is instructive.  Just look at the issuers of a currency that is down 50% in 15 years and 90% in 100 years in terms of gold telling the public that it is GOLD that is the riskiest thing you can hold.

Will the public buy it?  Will they get a fair chance to hear the evidence?  Will it matter to them when the authorities are warning them not to dare to walk out that door?  Will successfully proving that the SNB is ruing the Swiss currency make the yes side more likable or less likable, even detestable in the eyes of the public?

 

Stay tuned and do your best to allow yourself to accept what you are seeing.

 

Thu, 10/30/2014 - 15:12 | 5395109 EverythingEviL
EverythingEviL's picture

I'm still trying to understand everything you're saying about this gold vote coming up. Only saw a brief headline about it the other day but haven't read up on it. Sounds interesting though. Did anyone else find it more than just a little odd that they trotted Greenspan out to trumpet the "Gold is a good investment" line?

Thu, 10/30/2014 - 15:06 | 5395084 SAT 800
SAT 800's picture

Interesting thing to contemplate; for every one of those E-mini contracts that was bought, there was a seller. What do the buyers plan to do next? that's why it's called futures. if you wanted to unoad your portfolio wouldn't you like the prices to be nice and high when you sold out? This has been standard practice since the famous episode of Rothschild's killing on the floor of the English Bond market at the news of the battle of Waterloo; look it up, it's educational. he had inside information that the English had won, and therefore their bonds would trade up in price; but what did he do with this information? He sent sell signals to his traders on the floor, creating a panic; (people were willing to assume he had some kind of inside information); then he bought them all back again at the artificially low prices he had created. Same thing works the other way around; you want to unload your stock portfolio; create a phoney rally and then sell into that.

Thu, 10/30/2014 - 15:11 | 5395102 ekm1
ekm1's picture

how do you know that trades actually took place?

 

Fed, NSA can easily override the system and type in numbers

 

http://www.foreignpolicy.com/articles/2014/04/28/exclusive_meet_the_secr...

 

Thu, 10/30/2014 - 15:50 | 5395260 TeethVillage88s
TeethVillage88s's picture

Its just like national Elections.

We don't know. We can't prove the system or even describe the safety procedures.

IT IS a PsyOp. Leaders want to pass around confidence, when confidence doesn't work then they pass around fear. Federal Government doesn't plan, execute, and monitor the country. They wait for the crisis to come then twist it as they see fit. ...And the Big Money now runs all politics and all legislation to include going to war and Amnesty for Illegal Aliens and keeping the borders open.
---

What does the Pentagon say about congress giving up War Powers, Budget Powers, and the power to Legislate?? How does the Pentagon feel about Lobbyist running USA Incorporated? They love it. They don't think civilians should be running USA in the first place.
---
PAPER: NERVOUS AMERICA PREPARES TO VOTE...

MAG: White House in Denial Obama Hurting Dems...

Rush to save suddenly vulnerable incumbents...

Thu, 10/30/2014 - 15:36 | 5395213 aVileRat
aVileRat's picture

Smartest thing posted in 4 days.

Case in point? the morning sell rush.

 

Thu, 10/30/2014 - 14:33 | 5394913 Dr. Engali
Dr. Engali's picture

I'll reserve judgment until I see S&P 666 again.

Thu, 10/30/2014 - 14:35 | 5394928 DavidC
DavidC's picture

It'll get there...and further.

DavidC

Thu, 10/30/2014 - 14:44 | 5394961 101 years and c...
101 years and counting's picture

have to maintain the illusion until the (predecided) "unknown, outside event" crushes stocks.

Thu, 10/30/2014 - 14:44 | 5394975 Winston Churchill
Winston Churchill's picture

Putin's fault as the excuse when they close the doors forever on these 'markets'.

Prolly not long now. There are no coincidences.

Why settle for 401k's when you can steal the lot ?

Thu, 10/30/2014 - 14:34 | 5394925 AccreditedEYE
AccreditedEYE's picture

Yes, broken. But where are all the professionals taking advantage of it? If you were sitting on a mountain of equities and prices got "rigged" higher, wouldn't YOU be selling the shit out of your portfolio? This would be happening if PM's truly believed prices were out of line.

Instead, que the "performance chase into year-end" meme and watch this son-of-a-bitch pop another 20% into year end. You cannot fight these people... you simply can't.

 

Thu, 10/30/2014 - 14:41 | 5394950 ShrNfr
ShrNfr's picture

When you trade for your own account, as I do, you can afford to miss they hysterics to the upside so long as you also miss the hysterics to the downside. Ideally, you sell into the upside ones and buy in the downside ones. When you are sitting on a billion or two of equity, a 500 point negative alpha gets you on the shit list and a 1000 negative alpha gets you fired. For the really big guys, a 200 point negative alpha gets you fired. You might not like to lose money for the client, but you sure as shit do not want to lose your job. It has been always thus with OPM.

Thu, 10/30/2014 - 14:54 | 5395016 LawsofPhysics
LawsofPhysics's picture

Computers can get fired?  How many humans are involved with trading these days.  Most of the working class are forced into mutual fund 401k bullshit.  It's all automatic deposit etc...

Humans are fucking obsolete and have been for quite some time.

Thu, 10/30/2014 - 15:13 | 5395116 SAT 800
SAT 800's picture

You can't be serious. Think about what you're writing. Humans are definitely behind the machines; which are used as part of a trading dept. which is run by people. Fund managers can definitely get fired. they twiddle the knobs on the machines and they have opinions; as it has always been.

Thu, 10/30/2014 - 15:31 | 5395184 TeethVillage88s
TeethVillage88s's picture

Stock Traders have been outsourced. Yep.

Thu, 10/30/2014 - 14:59 | 5395039 disabledvet
disabledvet's picture

The actual OP with the M will fire you for not taking the risk in the first place.

And that's "straight from the pro's" I might add.  It is not the job of the money manager to time the market or to find complexity where in fact there is none.

Oh, and its still okay to have a down year as well. (I had one last year.  First in six that wasn't a plus twenty double digit gainer though.). Wish I had the leverage to back up these plays actually...but in the end its not being wrong but being levered wrong that kills you.

Thu, 10/30/2014 - 15:10 | 5395105 SAT 800
SAT 800's picture

Exactly. two different worlds.

Thu, 10/30/2014 - 14:41 | 5394935 Bear
Bear's picture

Greatest generational selling opportunity ... The Bear

Gold spilled the beans ... QE gone for now ... ES trying to fake out last of the line bulls with bank buying as favor to FED (no facts, just guess)

Thu, 10/30/2014 - 14:52 | 5394944 Squid Viscous
Squid Viscous's picture

It's only "broken" if it goes down really fast, or maybe it was a just a "glitch" like we had a few times in 2008 and in May 2010 - CNBS spokesperson

Thu, 10/30/2014 - 14:40 | 5394947 IANAE
IANAE's picture

PnDT

PPT

someone's been busy today...

Thu, 10/30/2014 - 14:43 | 5394969 Clesthenes
Clesthenes's picture

Some think they will see S&P at 666 again.  Not a chance.  Instead, we’ll see 2500, then 3000, then 4000.

We’ll also see a loaf of bread at $50, then $100 dollars.

Then it will be a real slaughter.

And we will have to deal with the question, ‘Who will fall under the ax… those who submissively march to the slaughter… or those who perpetrated it?

We do have a choice in this matter: for, Americans have the power to redress any grievance that could be named – and thus, exercise sovereignty; but they REFUSE to use that power. There are three main reasons for this failure: one is that they have no knowledge of such power; the second, they’ve been herded into a kind of impotent stupor by medication and indoctrination; the third, that they aid, benefit or were complicit in such evil (full article).

 

There’s a remedy for all three of these failures: 1) learn, and use, the law and procedures of redress; 2) follow a health regimen that has REDUCED – not slowed – my biological age 50 years; and, 3) see number one.

Thu, 10/30/2014 - 14:52 | 5394986 Squid Viscous
Squid Viscous's picture

doesn't being a cheap whore add to your "biological age"?

Thu, 10/30/2014 - 15:54 | 5395271 Clesthenes
Clesthenes's picture

Squid,

Very perceptive. “Being a cheap whore” sets up tremendous conflict within one’s conscience, that little judge with sovereign power; a power that can trigger life-threatening nightmares if disregarded.

It’s the effort to suppress this judge that causes unnatural stress, shuts down internal organs, leads to a longing for death without courage to do it.  It all leads to rapid degeneration, and a very ugly end.

These people forget that the energy needed to suppress increases with each passing year, and the body’s capacity to produce energy decreases with each passing year.  The moment when the former becomes 51% of the latter, is almost instantly followed by suicide or complete insanity… very ugly.

 

An understanding of the mental dynamics of this process will help you understand why so many people support tyranny.

Thu, 10/30/2014 - 14:48 | 5394990 thismarketisrigged
thismarketisrigged's picture

this shit is so stupid.

 

ibm is down 8 percent 2 weeks ago, yet the dow is green, V is up 9 percent today and that fucking drives the'' market'' higher?

 

who the fuck is buying, its not fucking ppl, ill tell u that, unless they r so fucking brainwashed by the fed and economists who say to buy stawks

 

 

Thu, 10/30/2014 - 14:49 | 5394992 starman
starman's picture

1929!!!!!!!!!!!!!!1929!!!!!!!!!!! 1929!!!!!!!!

You've been warned!

Thu, 10/30/2014 - 14:49 | 5394994 wmbz
wmbz's picture

It's all so in your face and up your ass, I would say it's unbelieveable but of course it isn't.

The bankster boyz don't give a flying shit, they own the whole show and everyone knows it. It is just one big private circus and they are loving every minute if it. Must be nice to be above all law.

Thu, 10/30/2014 - 15:11 | 5395106 NotApplicable
NotApplicable's picture

Right up 'til the instant they discover they lack immunity to nailguns.

Thu, 10/30/2014 - 15:16 | 5395001 Banker Buster
Banker Buster's picture

If one were running the Fed and wanted to give the appearance that QE wasn't holding stocks up, save a lot of ammo for the final taper.  Right when you finish QE, buy S&P's like there is no tomorrow short vix, do everything you can to juice this thing, it's the grand finale.  That way you can say the market actually went up after we finshed QE, so whatever happens after that doesn't have to do with the fed.  Hands are clean!

Thu, 10/30/2014 - 14:54 | 5395009 pragmatic hobo
pragmatic hobo's picture

it's a month-end ... tapes have to be painted with pretty colors.

Thu, 10/30/2014 - 15:04 | 5395068 Banker Buster
Banker Buster's picture

I agree.  ES 62 is Oct open, which is going to be the fight, now bears have their work cut out for them after this ramp.

Thu, 10/30/2014 - 14:56 | 5395030 tedstr
tedstr's picture

Due to an ongoing issue with the NMS SIP, the NYSE and NYSE MKT are experiencing issues publishing and receiving trades and quotes"  Anyone noticing the high number of price spikes last few days?

Thu, 10/30/2014 - 14:58 | 5395031 FiatFapper
FiatFapper's picture

Fibs: 0, 1, 1, 2, 3, 5, ... , 1597, 2584, 4181, ...

Algo's love da fibs; target 2,584

Thu, 10/30/2014 - 15:01 | 5395048 tedstr
tedstr's picture

Well Ill be dipped.  1300 points in three weeks now Ive seen everything

Thu, 10/30/2014 - 15:01 | 5395051 FiatFapper
FiatFapper's picture

Also, our cherished skynet overlords are re-writing macro fundamentals such as Kondratiev wave theory; we're long overdue a reset every 45-60 years.

This is when the blue-blooded lizards feather their nest and bunker down in Cheyenne mountain ready for the onslaught from the great unwashed, but our beloved binary friends know no epoch.

Thu, 10/30/2014 - 15:03 | 5395059 Think Like A Crook
Think Like A Crook's picture

CME is screwed up too. Nymex oil and nattygas settlement prices "delayed.""

Thu, 10/30/2014 - 15:05 | 5395071 limacon
limacon's picture

The wrath of unintended consequences .

"Sheeple wear Wolfskin !"

Many algo's are escaped AI's . 

See

 

https://www.academia.edu/9031355/The_Were-Sheeples_Almanac

http://andreswhy.blogspot.com/2014/10/were-sheeples-almanac.html

Thu, 10/30/2014 - 15:08 | 5395090 tedstr
tedstr's picture

If the DJIA October candle wasnt negative we'd call this a climax top.

Thu, 10/30/2014 - 15:08 | 5395091 wswarrior
wswarrior's picture

The Down Tick Prevention Team, you should trademark that Tyler.  I needed that after this crazy move.  

Thu, 10/30/2014 - 15:09 | 5395097 Keltner Channel Surf
Keltner Channel Surf's picture

Motherfuckers.  Was loaded full into TZA when the bullshit hit, couldn't see charts and quotes went haywire, then took a big loss when everything got turned back on.  

However . . . was so pissed I took a flyer, got back short RUT after 2:15, went out and ran a few errands, back to find I'd made back all but $10 of the machine-generated losses.

 Don't spend my $10 all at once, you hexadecimal assholes.

Thu, 10/30/2014 - 15:09 | 5395101 Maplehood
Maplehood's picture

S&P 500 Back-Test Complete - Where Do We Go From Here?

http://www.goldsqueeze.com/analysis/sp-500-back-test-complete-where-do-w...

Thu, 10/30/2014 - 15:12 | 5395115 FreeShitter
FreeShitter's picture

This shit isnt surprising in the slightest, we still have (S)elections coming.

Thu, 10/30/2014 - 15:29 | 5395178 Ned Zeppelin
Ned Zeppelin's picture

You got to get the lingo:

"Surged"  What stocks did today.  Implies an irresistable market force that is squarely pointed in an upward direction. 

"Unexpected" or "Surprising" : describes an event that is contrary to the express instructions of the Federal Reserve Politburo, almost always used in a context that implies this can't possibly be right and must just be a one time kind of thing, so BFTFATH would ya.

"Spiked": what interest rates or commodity prices do on rare occasions.  Frequently used at the same time as "unexpected" or "surprising."

"Economist" or "Federal Reserve Member": someone who understands the mystical and arcane reasons why stocks surge, and other stuff is unexpected or surprising, thqt you are obviously too dumb to understand. Just BTFATH already.  

"Yellen" "Bernanke" or "Greenspan": check for your wallet. 

Thu, 10/30/2014 - 15:33 | 5395192 Goldbugger
Goldbugger's picture

NO MORE POMO, they are PULLING all the strings now to prop this thing up.

Thu, 10/30/2014 - 15:35 | 5395204 FieldingMellish
FieldingMellish's picture

So what? By tomorrow it will be forgotten.

Thu, 10/30/2014 - 15:58 | 5395285 jvetter713
jvetter713's picture

In the coming years...Nasdaq rises 5% on 3 shares traded...an above average volume day.

Thu, 10/30/2014 - 16:58 | 5395453 theyjustcantstop
theyjustcantstop's picture

there must have been a closed door meeting at the fed. after the open door meeting, and came up with, QE when needed, or can do optimal damage.

the feds. just had to screw the 401k slugs just once more.

three of americas biggest bait, and switches, public school, elections, and 401k's.

 

 

 

 

 

 

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