US equities, despite the Bernanke bounce on Friday afternoon and the first POMO of the year today, are in trouble (relatively speaking). The last 3 days in the S&P are the worst since pre-Taper and take stocks back to 10-day lows. Trannies are the most troubled, down over 2% from the 2013 closing highs. Gold and silver are back in the green (up for the 3rd day as stocks drop for the 3rd day in a row). Treasuries are well bid (10Y at 2.95% - 10-day low) while the USD is being sold this morning (on JPY strength which is carrying stocks lower).
From the 2013 closing highs...
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and from the "Taper" lows...
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