Stocks End Best Quarter In Years With A Whimper But Gold Is Winner

So Q1 is over and this happened...

(Click on image to enlarge)

And the message is clear...

Video length: 00:00:08

Gold wins...

(Click on image to enlarge)

It's been an interesting quarter...

Nasdaq best Quarter since Q4 2013
S&P best quarter since Q4 2015
Dow up 6 quarters in a row - since The Shanghai Accord (the longest streak since Q4 2006)
Financials up four quarters in a row
USD Index second worst quarter since Q3 2010
Gold second best quarter since Q3 2012
WTI Crude's worst quarter (and first losing quarter) since Q4 2015
US Crude Production had biggest quarter since Q3 2014

Nasdaq the big winner in US equities... (Trannies and Small Caps melted up to green in the last few days)

(Click on image to enlarge)

Energy was Q1's big loser, Financials managed to bounce off unch, and Tech was the big gainer...

(Click on image to enlarge)

Only 2Y Yields were higher over Q1 - that's with 2 rate hikes-ish...

(Click on image to enlarge)

The USD Index was a one-way trade in Q1 - down!

(Click on image to enlarge)

And for the month of March, gold also led (though most assets were negative)

(Click on image to enlarge)

Highlights of the month

Nasdaq up 5 months in a row (longest streak since May 2013)
Dow worst month since Oct 2016
S&P up 5 months in a row
Financials worst month since Sept 2016
USD Index second worst month since April 2016
HY Bonds' worst month since Oct 2016
WTI Crude's worst month since Jul 2016
US crude production is up 6 months in a row

Small Caps squeezed up to unchanged on the month and every effort was undertaken to keep the S&P green for March...BUT FAILED!

(Click on image to enlarge)

Financials were March's biggest loser, Tech the leader again...

(Click on image to enlarge)

Given all the vol in equities and crude oil, bonds ended the month practically unch... Policy Error?

(Click on image to enlarge)

Treasury yields have been trading in a very wide range for 5 months...

(Click on image to enlarge)

The dollar tumbled after The Fed's dovish rate hike...

(Click on image to enlarge)

Despite USD weakness, commodities all ended the month in the red - with Gold almost breaking even and crude ugly...

(Click on image to enlarge)

And finally for the week (after a big whipsaw last Friday on the pulled healthcare vote)...massive squeeze for Trannies and Small Caps

(Click on image to enlarge)

Massive short squeeze all week... this is the 8th day in a row that "Most Shorted" has been squeezed higher...longest since the election

(Click on image to enlarge)

Ugly close for stocks with a big MOC Sell order...NOT off the lows...

(Click on image to enlarge)

VIX seemed unhappy...

(Click on image to enlarge)

Treasury yields leaked lower today as Dudley's dovish words sent risk-off, leaving yields unch for the week...

(Click on image to enlarge)

The dollar dropped to a session low in choppy trading after New York Fed’s Dudley said that 2 more rate increases in 2017 seem about right, though there’s no need to hurry given that the economy is far from overheating, but ended the week marginally higher...

(Click on image to enlarge)