If you did not use this phrase today at least once then you are not paying attention...
It all started with some manic manipulation overnight... in Asia...
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And The US - S&P e-minis were halted twice...
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But the equity algos flip-flopped between JPY and WTI Crude as the momentum igniters on the day... until NYMEX closed and ruinbed the game...
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Trannies gapped higher at the open (but closed below their opening print) but everythijng faded in the afternoon
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Note that it appears S&P/Dow's failure to break overnight highs saw the rollover in stocks...
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On the week, everything is green with Trannies soaring...
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Avon may be sums up the craziness in today's market...
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But everyone's favorite hedge fund hotel saw losses accelerate...
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VXX (VIX ETF) saw another short squeeze in the afternoon (ahead of OPEX tomorrow)... but then eveything went nuts again in the last few minutes and VXX was crushed...
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VIXSmash algo losing its mojo!!
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Treasury yields were in general a one-way street despite the pump and dumps in stocks - some strength in bonds on weak inventories...
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The US Dollar lost ground from the moment weak inventories data hit...
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Crude surged (after the algos actually read the DOE data and saw production dropped), copper gained and silver and gold lifted on weaker dollar...
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The Crude slide is not over yet as the Volatility decoupling will get realizsed...
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Charts: Bloomberg
Bonus Chart: Everyone looked at Brazil charts today.. so here is one you didn;t look at - Petrobras recently issued 100Y Bonds... which are now trading at 70c on the dollar - still "money good'?
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