A public service message from Kevin Henry:
The 6th Hindenburg Omen in 7 days… a confirmed cluster we have not seen in recent history…
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Markets Turmoiled-er
Following yesterday afternoon's exuberant USDJPY-driven no volume levitation v-shaped recovery dead-cat-bounce (breathe), it was different today. Wherever one looks there is likely blood on the streets as the scale of moves today (and yesterday) dwarf recent historical moves. It would appear some counterparty risk concerns are being voiced quietly on desks too… as financials fear commodioty derivatives exposure.
Here's some context…
HYG at 18-month lows.. worst dasy since Nov 2011
S&P 500 at one-month lows – back to levels before the Nov payrolls data hit
On the week, yesterday's bounce is over…
Having tried its best to rally yesterday, energy stocks crashed today…down 6.5% on the week
USDJPY was in charge of stocks…
As can be seen here – the manipulated volume appeared right on cue once again as UDJPY broke 118.00 and it lifted stocks… along with a VIX slam BUT it failed!!
"Most shorted" stocks were whacked lower which makes us a little nervous going into tomorrow as we get another completely rigged squeeze
Treasury yields plunged further…
Tresasury yields in context…
Energy credit markets are in total freefall and stocks catching down…
As HY starts to get infected by energy…
And financial credit is gettingh nervous as counterparty risk starts to rear its ugly head…
The USDollar slid for a 3rd day led by very notable JPY strength…
Oil continues to collapse (down over 20% from the initial OPEC leaks that everyone said was priced in) and gold and silver are stable and up from pre-OPEC…
Leaving oil at 5 year lows and suffering the biggest slump since Lehman…
Charts: Bloomberg
Bonus Chart: Breadth….
via Zero Hedge http://ift.tt/12NLfWb Tyler Durden