Crude Crashes But Stocks Shrug Off Worst Weekly Plunge In Economic Data Since 2011

Tyler Durden's picture



Stocks soared on the week... (2nd biggest short-squeze in 4 months)

  • Trannies (orange) best week in 4 months
  • Small Caps (red) best week in 4 months
  • Nasdaq (black) best week in 2 months
  • S&P (green) best week in 2 months
  • Dow (blue) best week in 7 weeks


Seemingly completely ignorant of the fact that this week saw the biggest drop in US Macro data in 6 years...


'Soft' Data suffered the worst week since August and 'Hard' Data tumbles for the 3rd week in a row, remaining well below pre-Trump levels...


VIX saw its biggest weekly drop (over 1ppt) since the first week of January...

Interestingly most of the rally from  "greatest tax cut ever" from Trump was erased by the close...even as VIX was pressured


The Dollar Index ended the week lower, buffetted up and down by various comments from Trump, Mnuchin, and Stan Fischer... This was the lowest weekly close for the dollar since the election.


Cable was the strongest against the greenback (on May's surprise election news) and CAD weakest (energy dump)...


Despite Equity strength, Treasury yields ended the week lower (with 30Y worst at unchanged)...seles active inthe US day session all week


Despite the USD ending the week lower, commodities were sold...


Especially industrials...


Crude suffered its biggest weekly drop since early March, back below $50; and RBOB tumbled over 9% - its worst week since Sept 2016...


Gold was hit into the London Fix every day this week (Monday holiday but machines still hit it)


And back to where we started...


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No Time for Fishing's picture

I don't see crude carnage; I see my gasoline price going back under $2 a gallon. :)

AlexCharting's picture

Perspective and interpretation is EVERYTHING! :D

Ignatius's picture

OK, here's an interpretation:  "investors" have figured out that the FED and its minions have decided to continue to inflate assets and support the stock market and are "investing" accordingly.  And it'll be great 'til it ain't.

dimwitted economist's picture

 I SEE $2.59 a Gallon Here in Michigan...

Silver Savior's picture

I am forecasting $4.50 gas in California by Memorial Day. Just sayin'

DogeCoin's picture

These stock markets are policy tools to maintain social stability in an era of gross government overreach along with economic and financial repression.

Clock Crasher's picture

Silver:Gold 71.5 = Treasury of Goldman Nut-Sachs

Do the maffs

Silver:Gold breached 70 in H2.. of 2014!!!


It got the order from top brass

Die in place

spastic_colon's picture



"markets" do seem to be doing the wile e. coyote thing this far above 50 and 200 month MA's..................

order66's picture

Sub 1% is the new surge apparently.

scoutshonor's picture

Seems Janet had trouble keeping it up today.

PlayMoney's picture

No ramp into the close Friday which is unusual. Unless Yeller let the PPT take off at lunch for a long weekend.

lester1's picture

Answer my question Tyler's..


Why isn't Susan Rice and Loretta Lynch ordered to testify ??????

lester1's picture

Answer my question Tyler's..


Why isn't Susan Rice and Loretta Lynch ordered to testify ??????

ThirteenthFloor's picture

You expect the gangsta's to go after the gangsters ? Not on ya life.

It's a criminals world.

PlayMoney's picture

Waste of time as all of Obamy's folk say "No Habla" when asked to testify

order66's picture

3 words: Trump Tax Plan

"It's going to be huge. I mean really beautiful. Everyone already loves it and says we're doing a tremendous job. It's going to be just incredible. The best tax cuts ever."

Giant Meteor's picture

"Everyone already loves it and says we're doing a tremendous job. It's going to be just incredible."

If everyone is telling anyone that, they must be doing it wrong, or just full of shit ...

Either way ...

NugginFuts's picture

The White House is filled with:
A) Yes Men.

B) Pussies to grab.

C) The Squid Squad.

D) All of the Above. 

Pure Evil's picture

Please phrase that in the form of a question.


OK, what are pedophiles for $2000 Alex?

lester1's picture

Answer my question Tyler's..


Why isn't Susan Rice and Loretta Lynch ordered to testify ??????

Ricki13th's picture

The U.S. macro data literally went straight down wonder why? /sarc.

datbedank's picture

Gosh, I wonder what the headlines here will be like when things are really bad.

Will it be a mix of, "I told you so", mockery, or a return to not over hyping everything?

order66's picture

Love the site but ZH hasn't quite realized yet that their all caps twitter posts filled with doomsday trigger words are ignored by algos.

ChargingHandle's picture

Actually ZH is deliberately not crawled by the twitter algos because they were coded that way in purpose. 

BadDog's picture

Has nothing to do with investors.  The ESF through the Treasury Dept. is holding this hay ride up.  When they're ready it will be show over.

NugginFuts's picture

Not true! I bought the ETF of all ETFs today at 1000% leverage using my mom's credit card that I found when cleaning the basement where I live. I'm gonna be rich, bee-otch!

vegas's picture

The Dow30 was up about 60 points this week: I'd hardly call that a "surge". And the short sellers learn the hard way again, that it doesn't pay to try and sell a perceived top and be the first one to take the FED arrows straight in the chest. Sure, some day they will be right; until then they go broke in droves.

TradingTroll's picture

I am short since Dow 20700, break of trendline. Already right.

cherry picker's picture

If central banks invested $3.5 trillion in equities last year, who owns the corporations now, the central banks?

If they own all the big businesses, that is almost the same as government owning them, which makes the USA communist, no?

Scuba Steve's picture

Now I understand why they must stop Brexit, FRexit and any other sovereign movement ... the Central Banks and Corps are so intertwined into the debt and ownership they cant unwind it without a mass lynching going on.

God Bless the sovereign American common man, there is hope yet that we bring this fukker down.

We must do it.

WikiLeaks and Russia they are the American Common Man's partners, no doubt about it. Anyone that claims different, has no idea how close to a serfdom future they realy are.

Silver Savior's picture

Yep it's commie but the capitalist diehards will dismiss the idea until the very end. They have to maintain appearances after all.

Kat Daddy's picture

As long as the Central Banks keep buying equities, there's only one way for stocks, up, Up, UP!

nra2708's picture

Just stand back and take a look at the headlines on this blog during the last week.

Are they not becoming more 'Trumpesque''?

i.e. do they have less idea than DT?

Meanwhile the same 'ole bullshit continues to maintain the markets' status quo does it not...

Put it another way, one could ignore this blog for a month, it's ramblings will have meant SFA and, most likely, bugger all will have changed, and when the shit does hit fan I can guarantee this blog will be the last to know.....



Silver Savior's picture

Well with the central bank buying up all the garbage we can party like it's 1999. Until the hangover.

just the tip's picture

why all the gloomy faces?  the CB and/or MIC will save the day.  in this case it's MIC.

oh look, it's gramps buffett vs. the teamsters.  who's gonna win this one?  grampa buffett is holding out and it appears to be working.

major major major major's picture

good thing they can make money drilling at $20 a barrel, right?

bardot63's picture

Video is funny..........

GIVJetMech's picture

The Fed has its own TRADING DESK and an unlimited amount of cash with wish to prop up the markets. Why is everyone so surprised?