As Europe closes, the ‘recovery’ in US equities has faded to red for the majors (though Trannies and all the high-beta momos are still in the green thanks to JPY just not wanting the party to stop – for now) seeimngly led by AAPL’s plunge to its 50DMA. This morning’s jerk higher appears as much about BTFD catch up for Trannies than anything else. Bonds sold off modestly but the USD continues to surge (led by EUR weakness after ugly loan creation data). WTI crude (and Brent) is tumbling further – back at $94.50 – but gold is surging back to yesterday’s highs at around $1236. VIX is stable for now around 14% as stocks rotate back to play catch-down.
VIX is stable as stocks catch back down to it…
S&P 500 futures rallied to previous support and faded back quickly….
But gold keeps pushing higher as Oil tumbles…
It appears the high-beta BTFD-ers were in early but are fading now…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/4d9_jEQFSc8/story01.htm Tyler Durden