The US Stock Market Just Did Something It Has Never Done Before

Tyler Durden's picture

It has now been 242 days since the US equity market dipped by 3% or more... That has never, ever, happened before...

Rick Astley said it best..."never gonna let you down... or desert you"

Ironic then that stocks had their worst day in 6 weeks.

GE schizophrenia shows the utter farce that this so-called 'market' has become...


Nasdaq gave up all Friday's Budget-Resolution, tax-reform-hope gains...


NOTE they tried to ramp stocks in the last 20 mins but that failed - this is not something we have seen recently...NOT OFF THE LOWS...


S&P VIX jumped by the most since Sept 5th - back above its 50- and 100-DMA...


Risk and price remain decoupled...


It ain't over yet...


FANG Stocks dropped near 3-week lows...


Financials are starting to catch down to the yield curve's reality...


Treasury yields dipped today...


But 10Y tested up towards 2.40% before fading back...


The Dollar Index extended Friday's gains, closing at its highest since July 14th (even though it faded into the close)...


Cable was strongest after May's speech but Yen surged in the last hour...


Bitcoin tumbled from new record highs early on following Saudi Prince comments but was bid into the close of the US equity market...


Despite dollar strength, commodities were higher, led by copper...


Gold futures spiked around 12ET on the back of a $2.4 billion notional volume surge... back above its 100DMA...


WTF Bonus Chart: South Korean stocks are at record highs (why not!!) but South Korean sovereign credit risk is at its worst in 20 months...

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jamesmmu's picture
This Is Scary: Silicon Valley Is In Trouble, The 2s/10s Curve Is At Post-crisis Lows, House Flipping Is On The Rise Again…Ben Bernanke Is Worried

Shemp 4 Victory's picture

Long stock tips from shoe shine boys! Permanent prosperity is HEEEERE!!!1!!!!!!1!

MisterMousePotato's picture

I miss the guy with the lingerie babes at the end of such articles.

Tom Servo's picture

I miss that greek dude who got blowtorched by chinese solars,  I also miss harry wanger (who i always suspected morphed into million dollar bonergarage)....


MisterMousePotato's picture

Leo. Kovalkis or something like that.

I once went searching for an picture of Marla. Found something (chick on a bicycle) that might have been her. If so, she was a babe.

Fish Gone Bad's picture

Ah yes, RobotTrader.  I really enjoyed the babes.  One time he even posted a link to the various high end hookers.

Solosides's picture

This is your daily reminder to kill at least one pedophile zionist/jesuit bankster or politician every day. More enthusiastic people will shoot upwards of 10 or more per day. But doctors recommend shooting at least one banker/politician per day for good mental health.

Bes's picture

that better include trump

and his cabinet

or else you are a hypocrite


he's the newest zionist-bankster-neocon oligarch politician in charge

HungryPorkChop's picture

Crowded elevator always smell different to midget. 

This might explain why most of the small investors already left the market.


SubjectivObject's picture

the scarriest doom porn is based on specter of irrational success

DownWithYogaPants's picture

Rightly so.  

If it seems too good to be true it probably is.

HRClinton's picture

Ah, I remember Rick and his hit very well.  The irony is, that Rick dumped his GF shortly after the song became a hit.

LOL...  Perfect song to play, just before you dump someone.  If they hear the Rick Astley tune, they know "it's over".  Use the "It's not you, it's me" line for smoother exit.

Good tune for a 1-hit wonder though.

absente reo's picture

Yeah and SAW nicked the bassline from Trapped.

That after suing others for nicking stuff from them.

SillySalesmanQuestion's picture

It’s a Imminent Farce!

Hammer823's picture

Small losses to keep up apperances.  Fact is, since 2014, well more than half the components of the DJIA have DECREASED in total revenue.  That's right.  The majority of DJIA companies have SHRUNK over the last 4 years.  Yet the index has gained 7,000 points or almost 50% since that time.  It's easy to see that stock indexes are rigged to go up, regardless of company performance, profits, or fundamentals.



junction's picture

Time Warner, Comcast and Viacom have propped up their stock prices with share buybacks.  AFAIK, these three media companies have not turned a real profit in four years. These companies, and other companies, are following a strategy similar casino gamblers who double down their bets at a table game with a 50% chance of winning, like betting on red at a roulette wheel until the ball drops into a red number slot.  The Martingale strategy.  Only time will tell whether this buyback strategy will work out or whether the company craters under the weight of its debts. 

mc225's picture

--50% chance of winning, like betting on red at a roulette wheel--


...except that most roulette tables have an additional number or two ('0'... '00') which are neither red nor black, so the odds for either red or black fall below 50%...

D.r. Funk's picture

Ha - Ha - Ha

And some morons feebly, At - This - Point, that nothing's being programmed


JoeTurner's picture

Dow 500,000 bitchez !!! just like Zimbabwe....

D.r. Funk's picture

Cue the Dow-next-stop but never gonna happen guy

Games Without Frontiers's picture

At some point, but you gotta have the flush first, it's how banksters pick up assets for pennies on the dollar, all part of the game. Then it's CB money printing until their eyes and your ass bleeds, unless you have protection that is.

FreeShitter's picture

CTRL-P stuck on warp 10.

Mind the GAAP's picture

Tyler, if you get that Rick Astley song stuck in my head, I will hunt you down and kill you in your sleep.

JuliaS's picture

Let me wash that out for you. "Never Let Me Down", by Depeche Mode.

Some believe the song is about  heroin addiction, but I think it just as well applies to Fed's monetary policy.

CrimsonAvenger's picture

One of the funniest things I've heard: Someone located a 10-hour loop of that song on YouTube ad reported that there was a porn clip in it, which meant some poor schmo at YouTube had to watch the ENTIRE THING.

seataka's picture

Tyler just RickRolled us


Fundies's picture

I like this version of not being let down better.


waterwitch's picture

It will go down when Rothchilds say it goes down.

Sanity Bear's picture

just wait for the news of Napoleon's victory

Iconoclast421's picture

You do realize that when you post charts that parallel 1987, it just makes them press ctrl-p even faster?

RealistDuJour's picture

I love when charts overlay 1987... yet when you look closer, what you see with 1929/87 vs this chart is that the volatility that was already apparent in the previous 2 events doesn't match what they're overlaying.  "Look, things generally went up then they really went down".  Thanks Simple Jack, you can put a square block in a square hole.  Did you know that you can shove a golfball through that hole too, so it must be a square block!

Giant Meteor's picture

Up up and awayyyyy in my beautiful, my beautiful ballooooooon

jmack's picture

You know.  Venezuela could bypass the petrodollar by using thier oil to create electricity and using that electricity to mine btc.   Just saying. 


   Petro dollar aint lookin too healthy.

rf80412's picture

Depends how well their low viscosity, high sulfur oil can be burned straight from the ground.

That or go to the Chinese to get money for investments in refinery infrastructure, since the refineries designed to process Venezuelan oil are all in the US.  Tell them they can have every barrel produced by the refineries they pay to build.

cheka's picture

makes for beautiful yellow mountains on the flatlands of the gulf coast

Honest Sam's picture

The last person to try and horn in on the oligarchs monopolies Is extinct.

RafterManFMJ's picture

3 parts oil, 1 part human fat. Burns like hell.

techpriest's picture

So... they've got generators? Mining computers? Supply chains for the parts?