VIX Spikes Most In 7 Days As Tech Jumps, Dow Dumps

For Dow traders...

 

Ugly close but Nasdaq soared, S&P red, but Dow dropped hard after an exuberant open...

NOTE - Both rebounds in markets today were from the same headline on Larry Kudlow!!

 

The Dow fell back below its Fib 61.8% retrace line and notably made a lower-high...

 

Bank stocks extended Friday's gain with Goldman jumping on the heels of confirmation about Blankfein's successor...

While Nasdaq ripped, helped by chip stocks but FANG stocks rolled over (mainly due to NFLX)...

 

It's an OPEX week - so historically that means a collapse in vol - but VIX jumped back above 16 today following Friday's flash-crash (its first rise in 7 days)...

 

Although the put-call ratio has normalized to pre-crash levels...

 

And so has the VIX yield curve...

 

High yield bonds fell in price once again as did IG bonds, extending their losing streak. Last week was the 10th straight week that corporate borrowing costs have risen, the longest streak since 1994.

 

Treasury yields tumbled on the day, after two strong auctions, erasing Friday's hype...

 

With 30Y back below pre-payrolls levels...

 

Breakevens tumbled from the US cash open...

 

The Dollar Index tumbled for the second day, erasing Thursday's spike higher...

 

Crude was worst as gold scrambled back to unch, despite the drop in the dollar...

 

WTI/RBOB sank on the day, but rebounded in the afternoon...

 

Gold roundtripped from its early morning plunge...

 

Cryptos had another ugly day (although Bitcoin remains green from Friday's close)...after some notable buying overnight...

 

As many start to wonder if Bitcoin is really leading The Dow...

 

Comments

spastic_colon Mon, 03/12/2018 - 16:04 Permalink

I always know when its a down day cuz ZH gets these recaps out in 2 minutes as opposed to 6-7 minutes on up days........./s

FANG's were a complete joke today.......and TSLA.....really?

D.r. Funk spastic_colon Mon, 03/12/2018 - 16:24 Permalink

I said the underlying master-level control of high flyer tech and leader tech, (in conjuction with the dow30) were under direct programming by whatever power elite member (group), and being moved in a way that easily, at least, suggested ridged and resolute intentioned bubbling and overbloating, (4+ years ago)

That continues to be shown to be the setting

Someone in a top tier power position is merely button-pushing increases in the tech names they selected a few years ago as the ones that could just go up forever and everyone would just say ok-whatever-they-just-keep-going-up-and-with-nonsensical-dangerous-insane-valuations, and they've been doing it for years now

In reply to by spastic_colon

D.r. Funk Mon, 03/12/2018 - 16:08 Permalink

Wall st mafia final hour fakeout

and oh, cause gee, the indexes can "really go so much higher" already being in shillerpe-full-equity-bubble territory

Peak Finance Mon, 03/12/2018 - 16:13 Permalink

NFLX is flirting with disaster

On top of all the bad financial stuff you are reading about these guys. 

The content itself is taking a nosedive. Even the Boomer-Cuck members of my family are bitching about the degeneracy on NFLX. Its the "Streaming Service for SWJ's" and you know how that ends, the audience will be down 30% in a year from now. Quicker if they hire Obama. I can't see how any rational finance person thinking that hiring Obama would be a plus. 

There 100's of streaming services now, you just can't force this SWJ shit on anyone anymore. 

No cheap way to short this stock though. 

tion Mon, 03/12/2018 - 16:15 Permalink

That face reminds me of my former arch nemesis, 

Gary the Gopher

He would make that face at me when I would flood him out of his tunnel

defiantly chattering his yellow teeth at me as he stood there continuing to get pummeled by the garden hose.

He would get his revenge by felling my tomato plants, gnawing their trunks off at the base.

Poor Gary met a sad end.

Iconoclast421 Mon, 03/12/2018 - 16:19 Permalink

The schizoid market continues... How far can the DOW and tech diverge? The funny thing is that the DOW is pretty tech heavy in itself. Which means there is some serious instability brewing in the market.

arrowrod Mon, 03/12/2018 - 16:20 Permalink

The Dow fell back below its Fib 61.8% retrace line and notably made a lower-high...

Excuse me?

Apparently, somebody has enough money to push the DOW wherever they want.

 

In thirty years, the DOW is going to be over a million.  Probably 2.5M.

D.r. Funk arrowrod Mon, 03/12/2018 - 16:33 Permalink

apparently?

yeah theyve had component control awhile, in a way that djia targets or floors can be hit or reversed from and with constant rate rise, which just means theres a coordinated subroutine making calculations, i believe they experimented with this following lehman and most likely had a few iterations through 20 11-12-13 the improvements of which could be detected in intradays, patterns of the theorized programming can be seen over and over too much to not have design

In reply to by arrowrod

ktown D.r. Funk Tue, 03/13/2018 - 03:45 Permalink

Push American stocks up  all night until 1530 eastern when low vol. Can get clean without panic developing? Any excess liquidity feeds into the federal reserve balance sheet paying  interest on excess reserves back to the banks? Any disruption is quickly bought and a press release is issued to signal all clear? Everybody gets paid and the federal reserve has an asset it promises to keep in our names? #maga.

In reply to by D.r. Funk

Blankfuck Mon, 03/12/2018 - 16:34 Permalink

HUH? What? No WoRry! TOMORROW WILL BE ANOTHER FED RESERVE FUCKER MARKET DAY TO THE MOON!  Banksters will fix it all! EVERY DAY IS COLLUSION DAY IN AMERIKA!

PONZI FOR ALL!

Peak Finance Mon, 03/12/2018 - 16:42 Permalink

Sooooo, here is a little round-up for you:

1) I just found out that a vast majority of my Google Adwords spend, like more than 90% of it, is faked via click farms

2) Facebook reporting overall views down 24%

3) Netflix getting over-run by SJW, content spending out of control

4) Newsweek faked add numbers for, how long? investigations still happening

5) Everyday there is some new highly-targeted streaming service

Looks to be the start of something MAJOR in this Digital Media / Content space.