US equity futures started to slide once German confidence data hit early in the morning (and Treasuries rallied modestly) but as the US opened, the ubiquitous "markets are open and I must buy' rip hit... but didn't last. Stocks leaked lower but stopped as Europe closed (in a mirror of yesterday) but could not hold bounce gains as worries over Russia's convoy weighed on markets late on. The S&P and Dow end the day unch (Russell -0.5%, Trannies up 0.6%) on the week. As stocks old off, somewhat oddly, so did the US Dollar (on EUR strength - reptariation?), US Treasuries, gold and copper. 330RAMPCAPITAL turned up (well it is Tuesday), slammed VIX, and jammed stocks (except Russell) back to green (VWAP) but it didn't hold. S&P futures volume was over 40% below average.
Mirror of yesterday as stocks dumped early and stalled at the European close.. but headlines kept coming and pushed markets lower to the end of the day...
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Machines were in charge today as normal with VWAP (blue line) resistance all day (suggesting institutional sell orders were waiting)...lower pane shows volumes massively below average this week
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We bounced twice off last week's "NATO Threat" levels today...
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Treasuries rallied off the German data but once US markets opened, selling began and kept going even as stocks sold off...
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FX markets ended with the USD higher but the main action was selling from the German data that appeared all about EUR repatriation and derisking...
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Commodities slipped lower overall (even as the USD strengthened) with gold back to unch on the week (and copper worst)
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Notably Brent dropped to 2014 lows - dragging Brent-WTI back under $6...
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Charts: Bloomberg
Bonus Chart: Ebola-trade favorite Tekmira dumped 20% on the day...
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