The retail sales numbers came in much strong than expected this morning.

Overnight the People's Bank of China did an interest rate cut of 15 bp to 2.5%.

Stocks sold off broadly, for the first 90% of SP stocks down day since earlier this year.

Volumes were still a bit light for such a sell-off, but not for pearl-clutching drama queens. 

Weren't the spokesmodels talking up getting in on this big rally last week?

Uh-huh.Yeah buddy.

The Dollar just chopped sideways.

Gold and silver were off a bit after an initial vigorous sell off.

The VIX rose.

Wash, rinse, repeat.

My read on this turns an eye towards the stock index option expiration on Friday.

And that same read caused me to put an even bigger hedge on my long positions yesterday afternoon.

I did not take any of those hedges off, and stocks went out on the lows.

Smells like teen spirit. 

Have a pleasant evening.

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

More By This Author:

Stocks And Precious Metals Charts - Light Volume Day
Stocks And Precious Metals Charts - Harmonies
Stocks And Precious Metals Charts - Consumer Inflation Data Tomorrow