We suspect more than a few professional traders can find some analagous context with this clip after today's turmoil... (forward to 1:30 if it does not automatically jump)
Quite a day...
- 0400ET Early drop on hotter-than-expected EU inflation
- 0500ET Ramp on Greek deal rumors once again
- 0815ET Airline Bomb Threats send stocks lower
- 0830ET BTFDers ignore those headlines - stocks jump
- 0915ET Dijsselbloem dismisses deal - stocks drop
- 0945ET S&P touches 50DMA and bounces
- 1000ET Terrible Factory Orders data - stocks surge
- 1130ET Rip to new highs as algos latched on to Crude's spike - run stops
- 1200ET VIX monkey-hammered lower surges stocks
- 1400ET Stocks start to rollover on no news
- 1430ET NYMEX Closes, oil-stock link fades and stocks drop into red
- 1445ET RTRS headline bullshit on EU agreement on terms for Greece
- 1500ET Great Auto Sales data bumped stocks briefly but faded
* * *
While stocks traded like an EKG today, the big story is in FX and Bond markets where turmoil was an understatement...
The USDollar was crushed today... down a stunning 1.8% as EUR spiked over 2% ahead of tomorrow's ECB conference
This is the 2nd biggest down day for the Dollar since March 2009...
All driven by a huge roundtrip in EURUSD...
Bond yields were smashed higher - in Bunds...
And Treasuries... 30Y Yields broke above 3.00% once again
Stocks and bonds recoupled yesterday but once EU inflation hit and spanked Bunds, TSYs and US equities decoupled once again...
Stocks and USDJPY carry decoupled as they plunged this morning and algos flipped to EURJPY as the driver...
* * *
Ok so how did stocks do on the day...
In cash - exactly the same pattern as yesterday!
12:00 pm is the new 3:30 pm https://t.co/hXb3Dy4rd6 [16]
— zerohedge (@zerohedge) June 2, 2015 [17]
And since Friday's close...The Dow is clinging to Green, Trannies outperforming (despite oil's rally)
S&P bounced off its 50DMA...
VIX was once again gappy and noisy...
Despite all the carnage in the dollar, commodities were kinda blah... positive but modest...
Although stocks and Oil recoupled after Europe closed...then decoupled after NYMEX close (note the 2 pumps in Crude early on that led stocks)
Charts: Bloomberg
Bonus Chart: Deja vu all over again...
Groundhog Day (??????? ?????) pic.twitter.com/YWQaOrQAMz [23]
— Rudolf E. Havenstein (@RudyHavenstein) June 2, 2015 [24]














