Stocks Slammed Amid 'Cohn Of Uncertainty' As Hindenburg Omen Cluster Nears Record

"Pause that refreshes?", "Fleshwound?", or "beginning of the end?"

 

Between Bannon's China trade war threats and fears over Cohn leaving, risk was off today, not helped by dismal Industrial Production data and the utter horror in Barcelona... Trannies were worst but this was an ugly say all aropund and losses accelerate iunto the close ahead of tomorrow's OPEX...

NOT OFF THE LOWS>>>

 

Small Caps are now back to unchanged year-to-date...

 

S&P closed at critical support around 2430...

 

From "Fire & Fury", Nasdaq is leading the drop...

 

In order, from worst to first, retailers, energy, financials, and tech have tumbled since "fire and fury" with Utes holding gains...

 

Cohn Uncertainty crushed Goldman...

 

S&P VIX surged back to 15 and Russell/Nasdaq back over 18... Thursday Spike, Monday Plunge, Thursday Spike... this is the quickest reversal in VIX since Sept 2016

 

Over the last few weeks, a cluster of Hindenburg Omens have been erupting across the major equity indices...

 

In fact, as @AlpePinnazzo notes, the size of the cluster is flashing a major warning...

 

The S&P dropped back below its 50DMA... (this is the biggest drop below the 50DMA since before the election) to its lowest in 5 weeks...

 

Tech stocks gave up the week's gains...

 

AAPL was down today but FANG stocks were worse...

 

HY Credit tumbled to stop exactly at its 200DMA ($87.36 HYG)... plunging thru its 50DMA...

 

And stocks catching down to credit...

 

Treasury yields slid further today (again the AMZN rate lock pressure lifted and safe haven demand) with 30Y yields now lower on the week... (10Y ended with a 2.18% handle)

 

With 30Y yields back at one-week lows...

 

 

The dollar pumped higher overnight (seemingly bid after Bannon's comments) but tumbled after ECB Minutes, Industrial Production, and Cohn rumors...

 

The biggest driver of USD swings today was EURUSD which shifted on ECB Minutes...

 

The drop in the dollar during the day session managed to lift WTI Crude modestly back above $47...

 

Gold jumped again today, pushed higher overnight by Bannon's China trade war threats...