‘Dead-Cat’ Dies As Stocks’ Six-Day Win-Streak Ends Abruptly

Everything was awesome again and then….

 

Just as The S&P was heading towards its best 7-day win-streak since 2003, a long-weekend of reflection on reality ruined the party – not helped by Wal-Mart’s biggest earnings-driven gap-down in years. (Nasdaq failed to hold green)

 

Futures show the utter idiocy of yesterday’s trading (the plunge at the cash open – that didn’t happen)…

 

The Dow fell back below 25k this afternoon, having failed to hold its 61.8% Fib retracement and testing back to the 50% level…

 

The S&P fell back below its 50DMA…

 

Small Caps are back in the red (with Trannies) for 2018…

Ugly day for the FANG stocks..

 

 

VIX pushed back above 20…

 

And for those looking to pin the blame on Wal-Mart, note that The Dow really did not react to WMT’s moves (and by the close WMT was just 70 of The Dow’s 300-plus point drop…

 

Treasury yields were all higher from Friday but the last hour of the day, as stocks were slammed, saw bonds bid and the mid- to long-end rally notably…

The belly outperformed with 2s7s down 3bps…

 

The Dollar Index surged again, erasing its post CPI losses….It seems the holiday in China is helping

 

Dollar Strength did not help commodities which all fell today (WTI is holding in for the week amid “super-cartel” headlines)…

As gold has sunk the last few days, Bitcoin has rallied…

 

Bitcoin continued its February bounce-back…

 

With Bitcoin now up almost 100% from its early-Fed lows…

 

Today was the first aggregate bond + stock return day in 7 days…

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