The Farce is strong in this market (so there was only one clip possible today)... as flip-flopping Fed Presidents, Greek risks, and more crappy data turmoiled the markets...
Equity futures did their usual v-shaped recovery in an algo stop-run to yesterday's highs before falling back... as Fed Vice Chair said
- *FISCHER SAYS HE'S EXPECTING A PICK UP IN GROWTH AFTER Q1
- *FISCHER: ONE WEAK JOBS REPORT FOLLOWED 5-6 `SPECTACULAR' ONES
Somewhat signaling rate hikes sooner no matter what...
Cash indices opened gap down, filled the gap as we predicted then faded - very narrow range trade in cash today... (NOTE: Nasdaq twice bounced off 5000, S&P perfectly bounced off 2100 and The Dow stayed well above 18000) - Only Trannies closed green
Homebuilders hammered after weak Starts & Permits data...
On the week...Trannies remain red, Small Caps the best performer...
Virtu Financial (VIRT) closed below its post-IPO open price... (priced at $19, opened at $23)
JPY-Carry and Bonds decoupled from stocks soon after the European close....
The Dollar was dumped again as EUR-USD surged up towards 1.08... biggest 3-day drop in USD in a month and second worst week since July 2013
NOTICE ANY PATTERNS?
Treasury yields had a wild day... yields dropped into the US open (on weak housing), were ramped higher as markets opened and a bevy of Fed speakers flip-flopped around...
Gold and Silver were dumped early on but closed unch; copper and crude rallied...
Gold dumped on Fischer's comments that markets need to stop relying on The Fed to be there forever...
Crude soared over $57 despite Saudi Arabia pushing production up to record highs.. and then tumbled (as usual) after the NYMEX close...
Charts: Bloomberg
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