Dollar-nado Sparks Market Turmoil In April

If you were long AAPL, Bonds, Small Caps, Trannies, or Silver in April (or The Dow since 2014).... this is for you...

 

Great news today on wage costs sparked the initial wave of liquidity-addicted selling which then accelerated this afternoon as headlines from Iran hit...

 

By the close, Small Caps were worst on the day from The FOMC statement...

 

And on the week... Small Caps are ugly, Dow and S&P down but holding on for now...

 

And for April...

 

Biotechs buggered... (closed below its 100DMA to Feb lows) - down 14.3% from highs 5 daya ago!

 

Apple anxiety... (closed below its 50DMA) dow over 8% from highs..

 

Twitter Twatted... -24% from pre-earnings early release...

 

The dollar dropped, led by more EUR strength (back over 1.1250 today!)...

 

Treasuries blew higher in yield early on as it seemed the "rate hike meme" trade was back and everything was sold. But once stock selling accelerated, bonds rallied and ended close to unchanged...

 

All commodities are up on the week still but gold and silver were clubbed like baby seals around the data release this morning...

 

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For the month of April:

  • The dollar ended a 9 month streak with a 3.5% drop in April (most since April 2011)
  • The Euro is up 4.3% in April (most sicne April 2011) ending that 9-month streak
  • Biotechs ended a 6 month streak with a 7.3% plunge in April (most since April 2014 - Yellen warning)
  • WTI Crude rose 24.8% in April (the most since May 2009)

Notable selling in Treasuries and curve steepening with the long-end around 23bps higher in April...

 

The dollar had its worst month in 4 years - led by EUR strength following Draghi's dare...

 

And despite the dollar weakness, gold ended flat, silver down but copper jumped on China QE and oil just went up because everything's normal again...

 

Finally for 2015, The Dow dropped back into the red and Trannies hit new lows for the year...

 

Everything has recoupled as Oil soars...

 

Charts: Bloomberg

Bonus Chart: Yellen is Stallone; Obama is the guy in the chopper; Everyone on CNBC is the lady hanging from the rope...