Bloodbathery

Don't just blindly follow someone else's path... (FF to 40 seconds for today's analogy)...

 

The Nasdaq's collapse now turns it red since the end of QE3 - joing the rest of the US equity party poopers...

 

Since The Fed hiked rates, things have not gone according to plan...

 

As The "Growth" dream is over...

 

On the week, Nasdaq was boodbath'd but Trannies jumped...

NOTE: Amid all this carnage - VIX remains under 24 and the term structure not inverted - i.e. No Panic

 

Quite a week for The Dow...

 

And Nasdaq was the biggest loser on the day... the biggest single-day drop since August's Black Monday plunge... (Nasdaq lowest close since Oct 2014)

 

The reaction across asset classes to today's jobs report...

 

Financials disappointed as systemic risk surges and Materials' big mid-week squeeze held its gains...

 

FANGs are FUBAR...

 

And Biotechs were battered to 2 Year lows... down 37% from its July 2015 highs...

 

And finally this happened...

 

Treasury yields jerked higher on the jobs data only to tumble as traders rotated out of growth stocks...

 

The USDollar Index crashed by the most since June 2009 this week (despite a bounce today) led by JPY strength (biggest week since Oct 2008!)...

 

A total fail for The BoJ...

 

Commodities were mixed on the week with USD weakness sending PMs higher but growth scares driving copper and crude lower..

 

Gold is "off the lows"

 

Gold's best 3-week gain in over a year to near 4-month highs and Silver's best 3-week run since May 2015...

 

Stocks and Crude remain highly correlated...

 

With China closed for a week, we wonder if the buying in gold is perhaps - just perhaps - anticipating a major devaluation by PBOC with public bank holidays already planned... but of course, this weekend will have all eyes glued to China FX outflows.

 

Charts: Bloomberg

Bonus Chart: Topping Pattern?