It is the 21st of July 2017

Dollar Slumps To 6-Month Lows As Stocks Do Something They Haven't Done Since 1969

Anyone get the feeling we are at 45 seconds into this clip?

 

The Dollar is down 5 days in a row - today's drop is the biggest since Trump commented on the "too-strong" dollar two months ago. This move has now erased all the gains since the election...

 

This is the longest period of calm for the S&P 500 since 1969...

 

And that is happening as US macro data crashes to one-year lows... This is the biggest crash in macro data since March 2015

 

It appears we're gonna need more OPEC/Russia jawboning... (ahead of tonight's API inventory data)

 

and that weighed down stocks today...

 

NASDAQ outperformed (new record highs), Small Caps were panic-bid into the close and The Dow clung to unch... Buy The F**king Shitty Data Dip?

Who could have seen that coming?

Year-to-Date... presented with no comment...

 

Notably we dipped pretty hard in stocks after weak hoiusing data and McConnell comments sent the USD lower (USDJPY lower) but dip-buyers rejoiced..

 

 

VIX closed higher (marginally) as every effort was made to keep S&P above 2,400... The VIX range for the last 4 weeks has been 11.2 to 9.6 and S&P 500 range from 2380 to 2405.

 

The 17th day in a row that VIX closed below 11...NEVER HAPPENED BEFORE

 

Ford managed only modest losses despite announcing a 10% gutting of its workforce...

 

Treasury yields dropped - erasing yesterday's moves...

 

With 30Y back below 3.00% again...

 

EUR strength was the big drag on the USD index...

 

With EURUSD now at its highest since Trump was elected...

 

USD weakness spurred another up-day for precious metals (up 5 days in a row)...

 

==> Source: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/14/20170516_EOD1.jpg

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