Well that didn’t take long… Friday morning’s post-payrolls record all-time high in the S&P 500 (because, as Steve Liesman said, “he can’t find any reason to be bearish about jobs data”) has rapidly collapsed to being negative year-to-date (and worst start to a year since 2009’s crash). Only the Transports remain green in 2014, with the Dow, Nasdaq (worst start to a year since 2008), and Russell all coincidentally gathered around a 2% negative return YTD.
But April is the best seasonal month in the year?
Of course USDJPY is about to test 103 again so prepare for a bounce…
Biotechs are back to red after bouncing to various VWAPs (and Friday’s major volume plunge VWAP levels)… and breaking back below its 200DMA at $132
via Zero Hedge http://ift.tt/1kD70vl Tyler Durden