No excuse needed...
This seemed to sum the talking heads up today...
Everyone who loves the ECI index is now searching for another index to like
— GreekFire23 (@GreekFire23) July 31, 2015 [7]
Everything was awsome today after the worst wage growth in US history sent stocks soaring.. and then they unleashed The Bullard:
- 1408ET *FED'S BULLARD SAYS "IN GOOD SHAPE" FOR SEPT HIKE: DJ VIA CNBC
Complete chaos today...
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With cash indices ending mixed (Nasdaq desparately clinging to green and Small caps ripped on biotech reach for safety lol!!!)
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A complete disconnect between yields and stocks until Bullard spoiled the party...
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Today across bonds, stocks, and gold...
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Stocks were rolling over hard and then...
- The Market Broke - 1532ET *NYSE HAVING BINARY GATEWAY LATENCY ISSUE ON IP 159.125.64.138
And so VIX was slammed...to ensure S&P holds the all-important 2100 level...
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* * *
Year-to-Date... Dow's down, Bonds down-er, Crude down-est... as The US Dollar is up 7.5%...
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Trannies are still the big laggards with Nasdaq leading...
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Led by Healthcare (Biotechs) as Energy remains the biggest loser...
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* * *
It was quite a month!!
Bonds hot, commodities cold, stocks meh...
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Bonds had their best month since January... (TLT +4.3%) - 2s30s biggest flattening (-23bps) since January
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Stocks managed - after this week's epic surge - to get into the green for July...Trannies best month since Feb (up 4.1%) but Small Caps (Russell 2000) fell for the first time since April...
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Commodities worst month since Sept 2011... to the lowest since April 2002
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- WTI Crude's worst month since Oct 2008 (down 20.5%) - lowest close since March 2015
- Copper's worst month since Jan 2015 (down 10%) - lowest close since June 2009
- Gold's worst month since June 2013 (down 6.5%) - lowest monthly close since Jan 2010
- Silver's worst month since Sept 2014 (down 6%) - lowest monthly close since July 2009
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* * *
On the week, Stocks soared...
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As VIX "Matterhorn"-ed...
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Bonds soared...
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The dollar ended the week unchanged...
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and all but silver slipped in commodities...
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Did we just reach the threshold for gold short-covering?
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And crude was crushed back to a $46 handle...
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Finally - despite all the huffing and puffing over how China saved the world again with their intervention, Chinese stocks suffered their worst week in the last 5, crashing 9-12%...
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The Shanghai Composite closed July down 14.4% - the worst month since August 2009.
Charts: Bloomberg
Bonus Chart: "Smart" Money Flow Continues To Signal Rotation To Weak Hands...
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