Trannies Tumble To Worst Losing Streak Since Nixon As Yields Hit 2019 Lows

Biggest US payrolls miss since 2008 and the biggest collapse in China exports in years (after the biggest credit injection ever)...

Take your pick from China - tech-heavy small-cap dominated CHINEXT surged over 5% while mega cap-heavy China 50 tumbled almost 5%...(SHCOMP ended the week marginally lower with the worst day since October and first losing week of the year)...

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By the end of the week, only UK's FTSE managed to hold on to gains as weakness rippled through global markets in the late half of the week...

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Dow, S&P, Nasdaq and Small Caps are down 5 days in a row but The Dow Transports is now down 11 days in a row - the longest losing streak since Nixon in 1972...

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This week was the first down week for US stocks since 2018... Small Caps were the biggest laggards.

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The machines went wild as always, desperate to get stocks green on the day...

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Everything green from the shitty payrolls print...

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Stocks tried twice to accelerate and ignite momentum for a green push but China trade headlines in the last hour spoiled the party briefly before the panic bid ensued, pushing the market above the pre-payrolls levels...

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"Most Shorted" Stocks are down 7 days in a row (first down week of the year).

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Buyback-related stocks are also down 8 of the last 9 days...

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The S&P and Nasdaq both broke back below their 200DMA this week...

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FANG Stocks suffered their biggest loss of 2019 this week...notably breaking back below its 200DMA

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Semis were slaughtered - worst week of the year...

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About two-thirds of its members are down, led by Marvell Tech after disappointing earnings. There was also a Nikkei report that the global semiconductor market contracted in January for the first time in 30 months. Momentum on the SOX is negative, as measured by the MACD. Falling below the 200-DMA could be an excuse for a broader selloff in stocks, I pointed out yesterday.

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James Goldstein 7 months ago Member's comment

Everyone should read this.