Retirement is still on for now. Late-minute desperation (in EURJPY) dragged the Dow just back over 16,000 and the S&P limped above 1,800. Bonds were sold (though less aggressively than gold and silver) and the USD rallied as early exuberance gave way to an uglier realization that good-news-is-really-bad-news after all following today's data. Volume was average as VIX continued to rise to 14.3% – its highest close since mid-October as we see the 4th session in a row with selling into the close. Today was the worst frst-day-of-month for the S&P since May.
EURJPY and S&P 500 joined at the hip – clearly EURJPY was the algo lever to ensure an 1,800 close…
4th day in a row of late-day selling pressure…
As VIX is rising rather notably…
Disconnecting further from stocks…
How long before the hedges are rotated into actual unwinds of this?
An ugly day for precious metals…as oil rallied further
Charts: Bloomberg
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/gUHiBseG2Jk/story01.htm Tyler Durden