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China Crash Sparks Holiday Hangover In Stocks & Commodities, Curve Flattens To 9-Month Lows
Today's market summed up...
The post-Christmas period started badly with a Bloodbath in Beijing... Biggest drop since August collapse
And while today's damage took the shine off the Santa Rally, the S&P remains 90 points rich to the Fed Balance Sheet...
Bonds remain the big winner post-Fed, stocks managed to scramble back into the green post-Fed in a VIX slamming panic and crude worst...
But on the day - from the early close on Christmas Eve, everything closed red - despite the best efforts of the machines...
But futures show that the weakness in China weighed in US stocks but as Europe closed a magical levitation began... Nasdaq futures were face-riupped into the cash close to go green....
FANGs were bid (after NFLX took a big beating early on)
Energy stocks hardest hit the damage was all at the open...
As having decoupled from oil prices...
Stocks took their lead from VIX ETFs... but even then they were not as correlated as normal (and note the very different behavior between the 'traded' VIX ETF and VIX itself)
And just look what happened to VIX and S&P futures at their close...
With VIX Futures & Options Total Open Interest dropping to a critical ledge...
Credit and stocks continued their recent decoupling...
Treasury yields leaked lower on the day... (thogh 2Y sold off) - we note YTD that 10y/30Y is down 11bps since the end of QE3 and 2Y up 52bps - can you say "policy error"?
And notably flattened (to 9-month lows) - as Financials ignored it...
The USD Index limped lower only to rally back to unchanged after EU close (amid notable AUD and CAD weakness)...
Carnage once again in oil exporter FX markets... Ruble closes at record low against dollar...
Commodities were all clubbed today... Crude dumped after Saudi deficit was exposed suggesting increased production possible. It is also interesting once again just how correlated silver and crude are...
Except NatGas which has now soared over 26% in the last week...
Charts: Bloomberg
Bonus Chart: In summary - more red lasers than green lasers today...
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I see many many lawsuits against big hoverboard in the near future.
I see a fortune in some sort of safety/training harness. Just need to work out the engineering
Funny, but they had to put in one fake fall (44sec)
Gotta close the year in the green, even if it's only .01% it will happen. Amazing that a market so large can be controlled so precisely, simply amazing.
i see no hangover........either the face ripping rally happens again tomorrow or later in the week, or first thing january; either way it will come......its all bullshit......but it will come.....dont forget the snp was at 2010 last monday.
I agree,
The PMO chart here => http://www.bit.ly/1fMcakI suggest this rally is not done yet, and santa [or what is termed by the professional traders on WALL ST each year] is still coming!!!
Maybe they crash the market the middle of the year so the smart money can get back in BUY, and go on vacation, only to see the market TREAD higher, while they are sipping martini's on da beach! :-) ** wink **
Bullish Dennis Smashes Gold
so fucking fake...
all for not too....
bring it mother fucking Wall St. pieces of shit and scumbags of the earth bankers....
DEATH TO THE MONECHANGERS....
more physcial Silver...
more physical Gold...
I wonder who isn't on vacation now... nobody wants to look to the market and a shitload of stock just traded on half the normal volume. I wonder which ones are the high volume drivers.
Why do adults and fat people get on those things? Do they have a lapse in the concept of gravity?
b hussein homobama, by executive order, outlawed gravity
Larouche reckons we have a week or so before the fat lady is on stage at least unlike Schiff and Celente his doom is short term
Larouche even had an emergency broadcast....see if he's right.
Hey Peter-Pan (khnum), 60+ years of raping & pillaging the real economy through financialization cannot be solved 'short term'. Get intelligence fool and quit living in a dream world!
Doesn't today's Natural Gas freak show bring to light for everybody that there are no more markets? Absolutely no supply and demand price action? NADA ZERO NOTHING?!?
CNBC says: Natural gas "snaps back on cold weather outlook". So basically, there will be cold weather at the end of December and beginning of January in the northern hemisphere? "Totally unexpected"? FFS everybody out there, please wake up!!!! THIS IS ALL A BIG THEATER!!!
Segway for Idiots... there is a reason they put a handle on there for balance.
red all day in the markets, tomorrow is all green? very Christmasy
The machines, the machines
have taken people away from reality
some Americans don't know anytheeeng
Anytheeeng
They're lost in cyberspace
Creating phony worlds in which they can escape
Yeah, the machines and the humans in love forever
Like you and me on TV bein angry together, ohhh
I'll always be there for you when you've got some yellin to dooo
Then people watch it on their machines, that good old fashioned tube
https://www.youtube.com/watch?v=t_4bCpuELMw
Playbook!