Dollar-Dump, Biotech-Bruising , & Rail-Rout, Ruins Record Run In Stocks
If you bought Trannies ahead of The FOMC, then…
Otherwise… given the volume traded today…
The S&P 500 has now alternated down and up for last 9 days
It’s been quite a ride… post-FOMC
On the day, Trannies got trounced by Railroad warnings…and Biotechs buggered by Gilead
Sectors all rolled over hard into today’s close…
Today’s market traded in a very narrow range and on extremely low volume… (S&P Futs volume 30% below recent average – which is a rapidly falling average) – Today is the quietest trading day of 2015 – until the close and puke…
AAPL back-filled the last-second collapse of Friday’s Quad-witching but as rumors of iWatch volume reductions hit, it started to fade… and agaion a plunge at the close…
Biotechs Blow-off Top?
Bonds went nowhere fast… the belly outperformed with 30Y and 2Y flat…
The Dollar was hammerred again – for the 3rd of last 4 days… the ibbgest drop since March 2009
Commodities were just insane… all higher on the Dollar weakness
But most focused in Oil…
And Copper…
Post-FOMC, across aseet classes is a very different picture…
Charts: Bloomberg
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Dollar-Dump, Biotech-Bruising , & Rail-Rout, Ruins Record Run In Stocks
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