The worst 2-week run of the year for stocks leave Dow, S&P, and Trannies red for 2015...
Yesterday's dead-cat-bounce died... and then the algos went berserk and ramped us above VWAP into the close... what a total joke.
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Don't think it was the machines - then how did we end perfectly at VWAP!!?
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And here is the lever... smash VIX 1 handle lower... (and note VIX higher and stocks lower after the close)
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But in the day, small caps outperformed - what a joke!!!!! look at it
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On the week,Trannies tested red but bounced, Nasdaq underperformed...
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Leaving The Dow, S&P, and Trannies red year-to-date... the panic-buying idiocy into the close was all the machines trying to get S&P green YTD
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This was the worst 2-week run for The Dow and S&P since early December... but Small Caps are green for March...
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So let's take a look at the turmoil...
Crude was Carnage'd under $45...
The Euro Baumgartner'd below the crucial 1.05 and could not get back up...
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Yields on the week dropped 11-14bps with the long-end erasing all the Jobs-data losses...
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The US Dollar saw its biggest week since September 2011...
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And biggest 2-weeks since Lehman!!
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Commodities performed relatively well in the face of the USD explosion... all apart from Crude...
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And finally... because it's all about fundamentals
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Charts: Bloomberg