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Stocks Slide To Weakest Consecutive Close Since October's Bullard Bounce
Summing up today (and every day) on the AAPL infotainment channel, we thought the following brief clip would clarify our perspective...
Before we start, something just does not add up here... Stocks (admittedly starting to catch down) have decoupled from relative volume pressures...
h/t @Not_Jim_Cramer
And Stocks have broken the uptrend heading back towards fundamentals...
but still CNBC claims "you have nothing to worry about in the equity markets, credit is the bubble"
* * *
Having got that off our chests...
Trannies were suffering more than the rest until late in the day panic buying lifted them up to Small Caps... S&P managed a tiny gain...
Futures markets show the V-Shaped recovery from early Europe-driven losses... (this is post Payrolls)
Since Friday's close, Trannies are ugly but notably the higher beta stock indices are not generasting the kind of momo oomph one would expect...
Notably, the S&P rallied all the way back up to its 100DMA then sold off again - this is the first consecutive close below the 100DMA since October's Bullard bounce...
AAPL's ramp was all about stop runs from yesterday's WWDC presentation...(AAPL bounced perfectly off its 100DMA at 125.37 and tested up to its 50DMA at 128.06 also)
The Dollar had a modestly volatile day but ended unch...
Treasury yields rose notably into the European close then rallied modestly into the US close...
Gold and Copper rose gently, silver was flat, but crude just did its thing...
Another day in the quiet world of crude oil... MidEast re-turmoiled - Saudi airstrikes in Yemen (and some claim that China will uptick its imports... because it just plunged them?)...
Charts: Bloomberg
Bonus Chart: Target was buyback spoofed...
1. Issue press release about massive buyback
2. Watch stock.
3. If stock does not surge, retract press release
»
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its the recovery, stupid
Liana was blocked from ZH today for posting this
https://www.youtube.com/watch?v=twRDQmmxLkw
Why is the Fed letting TLT float?
Ungripping it's stinky hands.
Answer.....they will blame speculators for rising rates
What did I win Alex?
Ohhhh, credit issssss the bubble!
This recovery, like, totally rocks man. I'm so happy right now with this recovery. It's taken a while to get moving but man it's rockin and a rollin now!!! Long live the recovery!!
it's the most stupid Recovery PROPAGANDA ever!
Bullish.
BTFD Limo's.
DAMMNNN YOU CREDIT BUBBLE!!
Why isn't anyone talking about this?
http://www.sott.net/article/250592-Audit-of-the-Federal-Reserve-Reveals-...
FULL PDF on GAO server.
You got me to click, asshole. The reason no one is talking about your bait is because it 3 fucking years old. fuck off.
Thanks for the heads up, Nessy.
I am sorry. I was busy, deeply involved in a program and didn't didn't check it out enough.
But this is fight club so get over it cunt.
All about the Daily Keltners today, w/ 3 indices bouncin' like crazy from the lower limit, while IWM continues to sit, bemused, near the conjoined 20/50 DMA. Will stocks now rise thru next Wed's Yellen presser, or flirt bearishly for a little while?
“Sweet Janet” from “Sweet Jane” by The Velvet Underground
Yellen on the corner, use case in her hand
Krugman’s in a straightjacket, Friedman’s in a bulletproof vest
And me? I had an Omega watch band
Riding in an AMC Pacer, Jan, you know, those were real cool cars
Bernanke studied Volcker’s curse, and Draghi, he rolled his R’s
Sweet Janet
Now Janet, she is the Chair, and Ben’s a blogger’s clerk
And both of them printed money, but it hasn’t really worked
As the Dow gets higher, the Pied Piper plays some magical music, Jan
‘The March of the QE Lemmings’, for old folks and kids
You can still hear Ben bray:
Sweet Janet
Some people think stocks keep advancing
Even with so many people out of work
And there’re even some market lovers
Well, they’re gonna tell you that no one gets hurt
They say that Fed Chairs never really hike
And that big funds always hedge their buys
And that gov’t data’s only mush
And that life’s all about SPY
But everyone who’s really smart,
they’re turning now to fade it
But anyone who ever threw a dart,
if there’s a profit, they’re gonna take it
Sweet Janet
"I'm coming up so you better get this Ponzi started"
https://www.youtube.com/watch?v=Hg-_uxD3H80
Keltner, Sweet Janet is a classic!
Thanks, if you remember the AMC Pacer (or, god forbid, the Gremlin), it means you're an old dude like me. Cars that looked like mid-top basketball sneakers.
I owned a Gremlin.
Two purple front fenders, white hood, and green body.
304ci and a four speed, burnt oil, and lasted me two months.
ooc - lots of daytraders up in here?
I'm going to roll up my pennies and buy me some Samsung.
http://www.nytimes.com/2015/06/07/magazine/what-silicon-valley-can-learn-from-seoul.html?_r=0
But therre's probably a few things that are undervalued, right? Man, if they can ever get rid of that crazy bugger to the north - all that quasi-slave labor! All the new chicks willing to do porn! All those ripe, delicious kidneys for the organ trafficking rings!
I'm finished posting on ZH.
It's been almost 2 years.
It's time to move on.
Watch your backs.
Take a break, a vacation, but don't leave for good.
I hear there's gonna be some fireworks later this year. There are a couple big dark birds circling around overhead. You can probably see them from where you are.
Personally I'm gonna stick around just to see. just to see.
HA. 2 years. Quitter.
Who is that poster anyway? Never heard of him.
going to Kuwait, by chance?
There's a lot of that going around.
That and gender dysmorphia - which is, I think, when you get up to take a shit in the middle of the night and sit on one of your own balls.
McClellan Summation went negative today for the first time since last October.
I'm mildly surprised. I guess it's some big guys sliding out of stocks because they fear the Fed bump. Seems overblown to me. I'll be even more surprised if it continues into next week. I expect straight sideways from now until the bump whenever that is.
gold star move at Target .... some low level press room munchkin will take the fall. perfect.
Where did all the bulls go?
As if millions of voices on Wall Street cried out in terror....
BTFD! Or is it a trap Gen. Ackbar?
I've seen enough ! ! ! !
I'm calling my congressman ! ! ! !
TF NQ YM ES all showing strong signs of bottoming short to medium term in price action, chart patterns, the general narrative of free money no risk long equities CBs got your back.
Almost all the real risk is to the upside from here. The chance of lasting all time highs being in place already is akin to that of Greece paying back their debt. Yea sure it is theoretically possible but....
Too much bullish data. Gasoline use up. Very solid JOLTS report (openings exceeding hires first time ever and an all time high). Some people just can't take good news.
Perhaps that's because "good news" is invariably later revised to bad news.
And did you see the sign next to the female in the Yahoo spin article about all of the new jobs. Wanted "($8/hour) Sales Associates". Good times are here again!
I earned that at my first job in the sixties.A summer job.
Another very basic comment here but are S&P's future contracts bought up when trying to rescue the economy from a slump?
Sort of. Once they meant increased capital to build/develop/expand. Since 2002 it's just a big black hole people throw money into because they are told it's where their money is best served and because the governments by route of the 401k/RRSP/Govie Retirement taxbreak contribution scams bait the hook for the banks to allow it to happen.
Keep your money out of a bank and the market is what is stressed here.