Biggest VIX Crash Since Election Saves Dow From Worst Losing Streak In 39 Years

Consumer Confidence soaring, expectations for stock gains at record highs, 6 sigma beat in Richmond Fed survey...

Video length: 00:03:18

(Click on image to enlarge)

The faith is strong with this one...

The Dow rallied over 150 points, breaking the losing streak and avoiding the worst run since 1978!! Yesterday's bounce off the 50DMA seems so perfectly orchestrated...

(Click on image to enlarge)

4 VIX Slams later, The Dow was back into the green for the week... $1 billion MOC did dull the close a little but hardly...

(Click on image to enlarge)

And USDJPY was lifted 1 big figure...

(Click on image to enlarge)

From record complacency to panic and back in just a few days... The last two days have seen the fastest reversal in VIX since the election...

(Click on image to enlarge)

Dow, S&P, Nasdaq, and Small Caps all rallied tick for tick with each other - which makes perfect sense, right?!!

(Click on image to enlarge)

From Friday's close, banks are back in the lead, bonds and bullion lagging...

(Click on image to enlarge)

But bear in mind, March has been ugly still for the big banks - worst since Jan 2016...

(Click on image to enlarge)

Off the opening lows from Monday, Trannies are best and "Most Shorted" stocks have been squeezed dramatically again...

(Click on image to enlarge)

With month-end malarkey underway, the S&P was ramped unrelentingly into the green for March...

(Click on image to enlarge)

AAPL traders could not get enough, greatly rotating out of SNAP... (AAPL gained over $15 bn in market cap today, that 1.5x TWTR!)

(Click on image to enlarge)

Fed VC Fischer was dovish with his view of uncertainty and just two more hikes and... The USD rallied!?

(Click on image to enlarge)

Yen weakness was the big driver of USD's gains back to unch on the week...EURUSD fell to 1.0799 before bouncing back

(Click on image to enlarge)

Swissy plunged after SNB's Marchler called the currency "strongly overvalued"...

(Click on image to enlarge)

Bitcoin slid lower as the USD ralied...

(Click on image to enlarge)

Treasury yields snapped higher today with 30Y back above 3.00% ands 10Y back above 2.40%

(Click on image to enlarge)

Year-to-Date, 7Y yield are unch; 10s and 30s are still lower and 2Y the owrst +11bps...

(Click on image to enlarge)

WTI and RBOB ended the day higher - despite a stronger dollar - but faded for most of the day after the opening gap...

(Click on image to enlarge)

Gold broke back below $1250 - back to pre-healthcare-bill levels - but Silver remains higher...

(Click on image to enlarge)

Finally, this summed up this week's market rather well...

can't stop, won't stop... pic.twitter.com/O8DmI8KkuU

— FxMacro (@fxmacro) March 28, 2017