Selloffnado: Perfect Macro Storm Clobbers Stocks

An ugly day all around...

  • 30Y Treasury yield - biggest 4-day yield compression in 15 months
  • Dow Transports - biggest single-day loss in ~5 months (2nd worst in 11 months)
  • Nasdaq - 2nd worst day in 10 months
  • AAPL - worst day in 3 months (2nd worst day of 2013)
  • USDJPY - biggest gain in JPY in 10 weeks
  • WTI - biggest single-day gain in 10 months
  • Financials - worst day in 10 months

In no particular order: Weak (and strong) US data (good or bad news?), War, Taper (Treasuries 'special'), Debt Ceiling, German elections, New Fed Chairman, imploding developing markets and collapsing global currencies... (S&P 500's first close <100DMA in 2013) it is on...


Indices all down notably post-Kerry...


Sectors all slammed post-Kerry with Financials and Builders battered...


S&P 500 futures' second biggest volume-day in 2 months (no matter what Bob Pisani says...)


Gold and Silver are at 3.5 month highs

WTI at 17 month highs


USDJPY 97.00 was line in the sand - we'll see if it holds overnight..


VIX biggest jump in 2 months


Icahn will not be happy...



Market breadth was terribe with TRIN smashing higher to 2.7 (a reading of greater than 1.0 is typically seen as a bearish signal, since there's greater volume in the average down stock than the average up stock)...


Charts: Bloomberg

Bonus Chart: Gartman's latest and greatest not going so well...


Bonus Bonus Chart: Deja Vu?


Bonus Bonus Bonus Chart: But Stocks are cheap?



No comments yet! Be the first to add yours.