"A day above ground is a day to buy stocks..."

Video length: 00:03:18

Trannies were weakest on the day as dip-buyers rescued stocks from red after a mid-afternoon slump...ugly close

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Futures show the overall trading a little better - weakness from the EU open, a panic-bid at the US open, big selling pressure mid-afternoon, then rescue into the close (though sellers appears as ETFs settled)...

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While short-term Vol sellers remain extremely active - with a crash below 10 sparking this morning's buying-panic at the open (following Friday's quad witch)...

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The term structure has steepened dramatically with 6-month risk premia at the highest relative to 1 month since February...

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This could be a problem for those expecting this ramp to continue...

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Nasdaq 'VIX' was a notable outlier today...

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Tech stocks tumbled hard mid-afternoon after comments from Harvard Law's Lessig on regulating code...

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Healthcare stocks did slide a bit on renewed chatter about a repeal bill...

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(NOTE: NFLX spiked at the open after a good night at The Emmys)

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Financials mirrored Tech's decline, surging above their 50DMA...

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Bond yields continue to catch up to stocks after the world did not end...

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Treasury yields rose on the day with the long-end underperforming (NOTE - 2Y at its highest since July 10th ahead of FOMC)...Bonds did rally into the last few minutes of the day...

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Japan was closed last night.

NOTE - 10Y Yields are back to the same level as Aug16 - FOMC Minutes day...

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Rate-hike odds for December are back above 50%...

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The Dollar Index rose on the day, tagging the lows from payrolls day...

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FX markets were volatile with central bankers desperate to walk back recent strength... first BoE's Carney, then BoC's Lane...

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In alternative currency land - Bitcoin spiked as gold sank today...

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Bitcoin is up almost 40% from the lows over the weekend...

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WTI bounced off $50 but ended the day lower as RBOB rose modestly...

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And finally, as a reminder, Americans have never been more bullish on US stocks...A record high 65% of respondents in UMich's consumer survey believe stock prices will be higher in 12 months...

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