Stocks Slammed Amid 'Cohn Of Uncertainty' As Hindenburg Omen Cluster Nears Record

Tyler Durden's picture

"Pause that refreshes?", "Fleshwound?", or "beginning of the end?"

 

Between Bannon's China trade war threats and fears over Cohn leaving, risk was off today, not helped by dismal Industrial Production data and the utter horror in Barcelona... Trannies were worst but this was an ugly say all aropund and losses accelerate iunto the close ahead of tomorrow's OPEX...

NOT OFF THE LOWS>>>

 

Small Caps are now back to unchanged year-to-date...

 

S&P closed at critical support around 2430...

 

From "Fire & Fury", Nasdaq is leading the drop...

 

In order, from worst to first, retailers, energy, financials, and tech have tumbled since "fire and fury" with Utes holding gains...

 

Cohn Uncertainty crushed Goldman...

 

S&P VIX surged back to 15 and Russell/Nasdaq back over 18... Thursday Spike, Monday Plunge, Thursday Spike... this is the quickest reversal in VIX since Sept 2016

 

Over the last few weeks, a cluster of Hindenburg Omens have been erupting across the major equity indices...

 

In fact, as @AlpePinnazzo notes, the size of the cluster is flashing a major warning...

 

The S&P dropped back below its 50DMA... (this is the biggest drop below the 50DMA since before the election) to its lowest in 5 weeks...

 

Tech stocks gave up the week's gains...

 

AAPL was down today but FANG stocks were worse...

 

HY Credit tumbled to stop exactly at its 200DMA ($87.36 HYG)... plunging thru its 50DMA...

 

And stocks catching down to credit...

 

Treasury yields slid further today (again the AMZN rate lock pressure lifted and safe haven demand) with 30Y yields now lower on the week... (10Y ended with a 2.18% handle)

 

With 30Y yields back at one-week lows...

 

 

The dollar pumped higher overnight (seemingly bid after Bannon's comments) but tumbled after ECB Minutes, Industrial Production, and Cohn rumors...

 

The biggest driver of USD swings today was EURUSD which shifted on ECB Minutes...

 

The drop in the dollar during the day session managed to lift WTI Crude modestly back above $47...

 

Gold jumped again today, pushed higher overnight by Bannon's China trade war threats...

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Hammer823's picture

A small blip in an otherwise straight up rally since November.

Losing a few hundred points doesn't matter much to an index that has added 4,000 in under a year.

The stock market indexes are rigged to go up.

This is a buying opportunity.  As is every drop.

 

 

thesonandheir's picture

Love Bannon 

 

Fuck Cohn.

TBT or not TBT's picture

Fuck a guy that doesn't defend freedom of speech of his least favorite people.  Their right to peaceably assemble and address their grievances.    Fuck the guy who doesn't condemn browshirt tactics, no matter who is deploying them, to destroy freedom of speech and of conscience.  Good riddance POS.   

flacon's picture

First time in a LOOOONG while that I've seen a > 1% drop. 

Swampster's picture

Dear Lord,

 

I humbly pray that the jewish banksters are able to save the world for us all....Amen

beaker's picture

Let me tell you this, boys and girls.  I traded commodities for 36 years and you can set your watch by how weird they get around one of these eclipse events.  The last one big one (late 70's/early 80's??) like next week,  the markets dropped like a stone.  Just sayin'.

Yog Soggoth's picture

All these charts are saying is a dip. Does that mean buy? No in my own humble opinion, but if you think gold just trades on some politicians words, then you are missing a larger picture. India just made a huge move. This will actually increase corruption in an already corrupt country. Gold as contraband? They better start building a wall.

JRobby's picture

They are all screeching and pronouncing doom because an Ashkenazi Gold Sacker is not going to be in the Council For Economic Development?

Why is it that the world economy is in the shit house and there are Goldman people infesting major governments throughout the world. Hello?

Exterminate all of them. ALL

4freedom78's picture

Blow the bubble, fuck all the poser!

haha-clinton-dix's picture

Gold $1,400 I break even on my spot + premium.

GUS100CORRINA's picture

And we have a SEA of RED

http://www.finviz.com/

How about TVIX?

SPVXSP/CSNA 30

NASDAQ: TVIX - Aug 17, 6:50 PM EDT

22.28 USD Price increase 5.41 (32.07%)

OUCH or YIPEE depending on which side you were on today.

Juggernaut x2's picture

You should learn how to spell it first, dumbass. 

jimmy12345's picture

 "Ethnonationalism — it's losers," he said. "It's a fringe element. I think the media plays it up too much, and we gotta help crush it, you know, uh, help crush it more ... These guys are a collection of clowns.""  Steve Bannon

MEFOBILLS's picture

 "Ethnonationalism — it's losers," he said. "It's a fringe element. I think the media plays it up too much, and we gotta help crush it, you know, uh, help crush it more ... These guys are a collection of clowns.""  Steve Bannon

 

The point of the first ammendment is to let like type of people's to congregate.  The U.S. used to have ethnic enclaves, until social engineers broke them up, especially by forcefull importation of Southern Blacks.

https://www.youtube.com/watch?v=zTrBXSwwsdI 

Italy had many depressions, but it stayed socially stable because of its tight inter-generational family structure, which was one race i.e. an extended family.

Japan is socially stable due to it tight homogeneity.  White civilizations are high trust when they are all white.  The implications of high trust are high social capital and low crime rates.

Putnam's book "Bowling Alone" explains it with data,  Bannon probably knows this but seems to have forgotten.  http://bowlingalone.com/

Charles Murray in his new book, "Coming Apart" uses data to show the loss of high trust of American White Working Class.

https://www.youtube.com/watch?v=6q3zy4NRzz4

Immigration of unlike peoples into former ethnic enclaves, or immigration into former extended families (national states) is against the natural order.  

The natural order is logos.  Anything against logos is destined to fail.  Ethno-nationalism is the natural state of being for humans.  Countries are sovereign.  Money is sovereign.  Money's true nature is law.  Sovereign money should never extend past your borders, as your law cannot extend past your borders.  

International bank credit is not sovereign money, and bank credit assumes a legal nature it doesn't have.  Private bank credit usurped the law.

Use a Bancor system to trade goods internationally. 

This whole breaking up of nation states, with high immigration.. the point of it is to move "CAPITAL" all around the world.  CAPITAL today is INTERNATIONAL BANK CREDIT.  INTERNATIONAL CORPORATIONS want to move their capital wherever, and find lowest cost labor, to then take arbitrage.  OR, international finance and tied corporations, want to immigrate low cost labor to then take wage arbitrage.  International capital won in world war 2.

OK - the root of it all is the money system.  Everything else is subordinate - an effect of malformed money.  People that aren't looking at the money, are being led astray into a circle, so they don't look up and notice their ruling class of rent seekers and oligarchs.

www.sovereignmoney.eu

 

MEFOBILLS's picture

If there is no nature, there is no natural law.  If there is no natural law there is no morality.  If there is no morality, there is no such thing as right and wrong.

If there is no such thing as right and wrong, you can do whatever you want.  That is freedom right?  The American way.

If you can do whatever you want, then the strong are the ones who are going to get everything.  The strong rules, and force is the only thing that matters.

Powerful forces of Capitalist Oligarchy back avant-garde movements (Jews typically self describe themsleves in this way). American blacks were used by Jews of NAACP as agents of chaos, to break up ethnic enclaves.  Today, sexual liberation (you can do whatever you want) is used to break up families and the natural order.  The latest is the homosexual lobby being used with transexuals to then break up families.  

Avant-garde banker capitalism stops evolution in its tracks, and breaks down natural family formation.

Once families are broken up, and you are running around in a circle like a chicken, and if there is no moral law, then you have no right to ask for a raise.  The economic surplus must go to Oligarchy - and don't you dare notice.  If you do notice, then a foreign interloper is immigrated to then take your job.

If you point out that the natural order of life is ethno-nationalism, or even support groups of like minded religous people congregating, then you are labeled as a racist.  I'm constantly being called a racist here at ZH. 

Another term used to squelch conversation is NAZI.  OOOOOOH.  When one looks at the actual history of national socialism, it was one of rebuilding social capital, and against "international capital."

International Capital is funding these avant-garde movments of revolution i.e. naacp, black lives matter, the sexual revolution, trannys.  The whole idea is to replace logos (the natural order) with pure force.  

In a monetized economy, pure force is money.  International Bank credit, extended at usury, is immoral and against natural law.

runningman18's picture

That's what the BTFDers were saying yesterday.  The banksters are going to crash stocks and blame Trump.  The BTFDers are going to get their asses handed to them. 

Handful of Dust's picture

Good to see Under Armour down almost 3% on their CEOs hateful remarks about Americans.

 

Americans elected trump, so when these CEOs hate Trump, they say they hate 63 million Americans.

Let them go bankrupt because we are shopping elsewhere. We DO NOT need their crap!

PrezTrump's picture

Screw him.  So many are never going to buy that UA crap ever again.  Should have STFU. Screw him.

user_name's picture

Under Armor socks hurt my feet, now I know what to do with them - throw them the F away lol

123dobryden's picture

Your trump is about to go full nuclear...

JB Say's picture

Under Armour, another toxic brand

Khan Bucklin's picture

Give me a break. They didn't say they hate, just that he tipped the scales against himself vs. their own self interest. It's what capitalists do. It was inevitable.

Trump is grossly incompetent and so were the 63 million or whatever who voted for him. That number is dropping FAST as people wake up. At least people with a net worth lower than $1M and IQ greater than 90.

PrezTrump's picture

Today was Cohn sooo it just wasnt the right time.  

 

It wont "crash" per say, maybe a couple percent from highs.  Watch futures tonight.  If BTFD is in place we will be well green from today's close.

runningman18's picture

No, today was due to the Fed admitting that they still plan to raise interest rates added on top of the Korea mess.  Cohn was secondary.  If there is a bounce tomorrow it will be minor, just as they have been for the past week.  The BTFDers have been getting reemed this week and I don't think it's going to stop. 

Tiwin's picture

....until its not . heh

order66's picture

Actually no Hindenburg Omens in June/July using original criteria.

Albertarocks's picture

Not possible.  The criteria was tightened by Jim Meikka, the creator of the indicator, simply to correct for the effect of ETFs.  So if HO warnings are issued today they would have definitely been issued on the old criteria.  Trust me I know, I wrote a column on the topic for nearly 4 years on Seeking Alpha.  I eventually just dropped it because although the logic behind the Hindenburg Omen is brilliant, the bankers literally wrecked its efficacy... just like they have completely wrecked the markets overall.

In fact, many of the reports of HO warnings in years past were put out by "analysts" who didn't even know the criteria had been slightly altered.  So the reports they issued were actually false alarms based on the old (and defunct) criteria, further providing ammo for the debunkers to laugh at the HO as a "piece of junk".  It's actually one of the greatest indicators of all time, but like I said, it has been literally broken by the bankers refusal to "allow" the markets to drop when economic mother nature said "they have to drop".  And of course, in the long haul mother nature will win.

ExplodingEntropy's picture

Thank you. You have increased the knowledges I contain in my brain place

LawsofPhysics's picture

Correct, simply put, discussing the "price" of anything in the absence of a mechanism for true price discovery is indeed a fool's errand.

Such "let the majority eat cake" monetary, economic, social, and political experiments have been tried before, this one will eventually end the same way...

 

guru69's picture

Good to see you again, Albertarocks!!  I remember you from Seeking Alpha and a link from EWTrends&Charts!  What are you doing in this racist den of whores called Zerohedge?

By my reckoning, we have had 8 or 9 HO's in this current cluster.  Bob McHugh is a big believer in the HO and although timing is a problem,  the indicator does let us know when the markets are very sick.

Albertarocks's picture

Hello again :-)  Were you using the name "guru" back then?  Yeah, Mike from EW Trends & Charts is a great guy but I haven't been there in centuries.  I leave a comment on ZH every once in a while but I pay no attention to racist issues and to this day I refuse to contribute to racism in any way.  In fact racism pisses me off to no end because it's one of the tools the elite use to "conquer".  So I never say racist things because if I did I'd be doing exactly what they want me to do.  I like to think I'm smarter than that, lol.

Bob McHugh is a nice guy as well.  In fact one time I wanted to use a very interesting stat that he had discovered, and when I asked his permission he granted it.  The only issue I had with McHugh's issuance of HO alerts is that the last time I looked he was still using the old criteria.  So he was one of 'the guilty' who were issuing HO false alarms, although unwittingly.  I should be more fair to other analysts when I say "they don't even know the criteria was altered"... because Jim Meikka didn't go out into the world of technical analysts and announce it with a bullhorn.  To be honest I can't even remember how I found out about the criteria adjustment myself, but it wasn't long after the changes were made...  and I started calculating the HO requirements properly after that. 

Back in the day when the HO worked properly (when bankers weren't scared shitless of a 3% drop in the SPX like they are today), the HO didn't really 'cluster' at all.  Maybe one or two signals and then BAM, a market drop of significance.  Today I just can't give the HO warnings any credence even though they are indeed revealing a very, very broken market.  The banking monsters just feed more and more money to a handful of gigantic corporations and voila... they successfully prop the markets up until a bit of confidence returns and the smaller companies finally find a bottom. 

My favorite analog goes like this.  Imagine a wagon full of lumber being pulled by a team of 40 horses.  38 of those horses are pulling the wagon and they're trying to pull it downhill.  But there are two hefty horses pulling on the back of the wagon and they're successfully pulling it uphill.  That just doesn't make any sense... but that's exactly what's happening when a Hindenburg Omen signal is issued.  Makes me crazy that thanks to blatant criminality (manipulation still is a crime) the markets don't behave like they should.

Thanks for chiming in.  Hope you are doing real well :-)

GotGalt's picture

Alberta - I felt compelled to login and respond to your post.  I agree with much of what you say and yes right now is a farce for real markets.  All one has to do is see the bond deals a few large caps made lately.  Apple, Tesla, Amazon.  Apple I can understand (maybe?).  But the others, they got away with murder in terms of funding their plunder.  It's like you say, how can real markets ever function and give out real signs if everything is broken? 

ReturnOfDaMac's picture

Ouch!   Turn those machines back on, turn those machines back on.

jamesmmu's picture
A Disaster Waiting To Happen: Retail Sales (Ex Autos) Still Weak, The Reflation Trade Rolls Over, Rental Units Collapse, Consumers Run Out of Spending Money…

http://investmentwatchblog.com/a-disaster-waiting-to-happen-retail-sales...

runningman18's picture

The BTFDers should be concerned I think.

Countrybunkererd's picture

After the Cocker hit on Trump I think I will take the boat out for a looooong weekend.  Maybe a loooonng week.

Peak Finance's picture

HAHHAHAHHAHHAHAHAHAHA

Go ahead fuckers

Crash it to "Punish" Trump. 

There are news articles out there saying the market should be crashed to punish Trump, and even a video by some asshole on HBO saying the same thing. Crash this bitch and these articles and videos will be posted across 1,000,000 social media accounts.  The Goy will know. EVERY Goy will know. 

Go ahead, I triple dog dare you!

Overleveraged_and_Impatient's picture

Look, people we just have to stay on track and stay on focus. The markets will probably not be crashing anytime soon, and capital injections have still not slowed down. Yellen, the Fed and Co still have our back. So what if Trump and Cohn are having small arguments? No big deal.

We can be RIGHT back up to 2475 area by Tuesday afternoon. We just need a weekend to relax and get back on track. 3x Long Leveraged S&P 500 has taken a hit today but that is OK. Nobody said making enough money to retire is easy. Just like learning to sail, gotta deal with the ups and downs.

I am still thinking 3000 year end target S&P 500. We can make this happen!!

PrezTrump's picture

It wont "crash" per say, maybe a couple percent from highs.  Watch futures tonight.  If BTFD is in place we will be well green from today's close.

Debt-Is-Not-Money's picture

<--- Nationalist Capitalism

<--- Globalist Socialism

Is this not the battle being waged?

Cast your vote.

Dragon HAwk's picture

Should have posted that in a vote format.  Just Kidding

Debt-Is-Not-Money's picture

Too many 'ists' and '-isms'? Strains the brain?

Ok then, I'll just sit under the "Cohn-of-Silence".

TBT or not TBT's picture

In TN the other day it was Nationalist Socialists vs the Internationalist kind(Soros funded antifa and local/state government officials).    

 

Didn't see or hear about any capitalists.  

pkea's picture

just waiit until october:) for real stuff to unfold