Volume is light, as Europe remains on Easter holiday, but the volatility is back. Biotechs opened notably higher, dumped to unch, ripped to new highs, then dumped again… The S&P 500 managed to regain all last week’s dump losses – but stalled then as POMO struck (the biggest in April) and AUDJPY took off in its front-running way but left stocks behind. Of course, there’s no need to worry though – tomorrow is Tueaday after all.
Biotechs couldn’t hold gains…
As AUDJPY decoupled on POMO and S&P revrted to USDJPY weakness…
which sent stocks to last week’s highs…
before they started to dump…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1r9mo6x Tyler Durden