Trump Trounces Dollar, Yields Cementing Tech Stocks' Worst Streak In 5 Years

Tyler Durden's picture

Down!

 

Well that was a day... Tillerson/Lavrov presser sparked a small relief in the safe-haven trend (sending the dollar and bond yields higher) but then Trump's comments on China, Dollar strength, and Yellen sparked a serious reaction...

 

US Equities were lower on the day...

 

The S&P closed below its 50DMA for the first time since before the election...

 

Bank stocks ended the day in the red for 2017... and gold the year's big winner....

 

And the Big Four were tumbling ahead of tomorrow's earnings...

 

S&P Tech stocks dropped for the 9th straight day - this sector has only had a longer losing streak once in its 28 year history (in May 2012)

 

VIX topped 16 for the first time since the day after Trump's election...

 

The VIX term structure has massively inverted around the French election and Debt Ceiling...

 

High Yield bonds are glued to their 50DMA...

 

Treasury yields fell once again...erasing all of Dudley's sell-off

 

to their lowest levels since right after the election...

 

The big dollar drop on Trump's comments hit every major...

 

But it's USDJPY that remains the most sensitive...Kuorda truied 3 times overnighnt to ramp USDJPY and failed.

 

Commodities were clubbed like baby seals...

 

WTI and RBIOB broke their winning streak and copper was hammered...

 

Gold gained once again (up 7 of last 9 days) to $1285 with bond Silver and Gold above their 200DMA...

 

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chicken_goose's picture

That chart with the three Kuroda's actually made me lol. The ZH Kuroda face meme cracks me up every time.

Luc X. Ifer's picture

Trump's revenge on the Silicon Valley's liberal cartel just unfolds, next H1-B visa on the chop.

 

eclectic syncretist's picture

10 yr breaking outof the rectangle to the downside says it all. Take a defensive financial stance or risk getting swept away. The 10 yr should not be breaking out to the downside when the fed is raising rates.

ne-tiger's picture

Looks like my miners have a chance now

Franklin Mint Chip's picture
Franklin Mint Chip (not verified) ne-tiger Apr 12, 2017 3:59 PM

Not really, miners are terrible. Metals will become cheaper and cheaper as time goes by.

CultiVader's picture

Except for Au and Ag! Cuz that's real money.

bob_bichen's picture
bob_bichen (not verified) Franklin Mint Chip Apr 12, 2017 4:07 PM

Franklin Mint Chimp  << CHRONIC "bitcoin.bullshit.com" SPAMMER

Franklin Mint Chip's picture
Franklin Mint Chip (not verified) bob_bichen Apr 12, 2017 4:13 PM

What took you so long bob_bitch? Did you learn what "spam" is yet moron??

SILVERGEDDON's picture

Spam is you pretending to be yet another fucking reincarnation of Fonestar - flawed genius, misled Shitcoin pumper, but a giant amongst the spammers.

He was right up there with Million Dollar Bonus, Robot Trader, and that guy renting his asshole for 7 k a month on the internetz. 

You, on the other hand, are right down at the bottom of the ladder with the likes of British Bob, the Falklands Slob.

After you have repeatedly endlessly yanked up your zipper on your hung out intellectually retarded dick , one would think you got the hint, but no................. 

panhead20's picture

Every Silicon Valley's liberal cartel can't wait for the H1-B visas to be chopped. Consulting rates and wages will go up for all of us liberal cartel fokes. Thanks Trump!

gdpetti's picture

Yes, loved that one.... and adding Trump helps explain how serious he is in be a good member of the club as they prepare for the final curtain call.

NoDecaf's picture

Trumps next speech will be in Spanish read from a teleprompter, that US taxpayers will have to sponsor immigrants in their homes or cut a check to homeland securidad.

SomethingSomethingDarkSide's picture

Hopefully some of you picked up Miners, leveraged or not, and/or Physical.

This is going to the moon.

Lithium too.

natxlaw's picture

I actually got some of my dip money back, But that's all I'm in!

Jim Sampson's picture

I'm hoping they pull it back down by Friday so I can grab more NUGT.

SomethingSomethingDarkSide's picture

Nice! Dollar cost average till GDX hits 60/share, that's where it topped out in 2011.  I'm buying weekly / bi-weekly.

$10k stacked thus far, no end in sight, fuck SchlongWave haters.

jamesmmu's picture
SYRIA: Are these eight signs of imminent Crash2 the real reason why Trump “bought into” the gas attack narrative?

http://investmentwatchblog.com/syria-are-these-eight-signs-of-imminent-c...

Traderone's picture

Yikes, the Price Action today would put years on you so I let them at it, don't need that grief.

 

 

 

BlueHorseShoeLovesDT's picture

The S&P chart looked like a bad EKG at 10:30, I gave up and took the day off. now it looks worse.

 

I had some S&P bull spreads go off in the middle of the night last night so I was good. Nothing like making money while sleeping.

virgilcaine's picture

Granny Yellen getting her whacks in on Trump.

 

lester1's picture

AUY has been skyrocketing. Easy $$$ to be made. Significantly undervalued gold mining stock. :)

MrSteve's picture

If you squint some at the chart you can see a completed cup with handle???????

Uranium Mountain's picture

Janet gets to keep her chair and Trump gets his debt ceiling raised and money printing. Moar of the same!

GETrDun's picture

NAK had a good day.

BigFatUglyBubble's picture

Next weeks Headline of THE ONION: Gentile Set to be Next FED Reserve Chair

Yen Cross's picture

  The 50 week sma in gold crossed the 200 week sma in January this year.  The 50 broke under the 200 in October of 2013, for reference.

  It looks to me like gold is in for a pretty good run higher.  Looks like the 1300 & 1308-10 levels are the next to watch.  :-D

  The 100 month sma is 1312.00 area.

eclectic syncretist's picture

The petrodollar is being assaulted from many angles at the moment, including the POTUS.  

natxlaw's picture

The close of market tomorrow could be your last chance to get to get in before a big repricing. Three day market weekend for uSA, and not China, so perfect time. 

TheRideNeverEnds's picture

Go ahead and short it, see what happens.

oromae's picture

You meand DJT's comments on the dollar last January? Because there's nothing recent.

Odd this article is the only one I've found with it's hair on fire.

robertocarlos's picture

Trounces rhymes with denounces.

Secret Weapon's picture

I do not give a shit about tech stocks or international corporate sales.  A weak dollar hurts me and my family and means I have to work myself into the grave just to keep up.  When corporations can leave blood on a battle field then I might give a shit about how well they do.  Till then - fuck them in the neck.

BlueHorseShoeLovesDT's picture

Cohn needs to school Trump

Blankfuck's picture

THE FED FUCKERS WILL PRINT! ZERO INTERESTS RATES -NO RATE HIKE! BUY BUY BUY THE FUCKING DIP!

THE FED FUCKERS WILL PRINT! ZERO INTERESTS RATES -NO RATE HIKE! BUY BUY BUY THE FUCKING DIP!

THE FED FUCKERS WILL PRINT! ZERO INTERESTS RATES -NO RATE HIKE! BUY BUY BUY THE FUCKING DIP!

THE FED FUCKERS WILL PRINT! ZERO INTERESTS RATES -NO RATE HIKE! BUY BUY BUY THE FUCKING DIP!

THE FED FUCKERS WILL PRINT! ZERO INTERESTS RATES -NO RATE HIKE! BUY BUY BUY THE FUCKING DIP!