 After The Fed, gold is down, the yield curve is collapsing, stocks are clinging on for dear life…
The Dow had a 9 day win streak going in (3rd such streak this year)…But it’s over now… (NOTE the ramp into the European close marked the end of the day’s gains) – AAPL, PG, and JNJ accounted for 50 of the Dow’s down points.
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S&P 2,500 was rescued once again with a VIX clubbing…
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All the major indices are lower post-Fed (with Nasdaq’s big plunge on AAPL weakness early on)…
VIX clubbed like a baby seal…
Very unseasonably…
FANGs were panic bid (as AAPL tumbled)…
AAPL bounced off its 100DMA but remained notably lower…
‘safe haven’ from ‘no brainer’…
Financials keep getting sucked higher (up 9 of last 11 days) as Utes and Retailers slump…
Financials are testing up towards recent cycle highs back to Dec 2007 highs…
Financials continue to shrug off the post-Fed yield curve collapse...(and as @Greener300 reminded us, trading volumes are also down 20% QoQ) – This is a quite shocking level of dissonance…
As the yield curve crashes to its flattest since 2007…the same level at which both of the last recessions started!!
On the week, yields are up across the curve but the decoupling between the long-end and the rest is dramatic…
With the 30Y yield back below its pre-Fed levels…
Dec Rate Hike Odds jumped to 67% (so still a 1 in 3 chance The Fed won’t do it)…
The Dollar Index extended gains from The Fed early on but ended the day unchanged…
And if President Trump’s approval ratings are anything to go by, things are about to get hotter for the usd…
Another ugly day for Bitcoin amid chatter of liquidations from BTCChina (note that BTC is down 22% in Sept – the worst month since Jan 2015)
Gold remains the biggest loser post-Fed with the dollar higher…
