Biggest VIX Crash Since Election Saves Dow From Worst Losing Streak In 39 Years

Consumer Confidence soaring, expectations for stock gains at record highs, 6 sigma beat in Richmond Fed survey…

 

The faith is strong with this one…

 

The Dow rallied over 150 points, breaking the losing streak and avoiding the worst run since 1978!! Yesterday's bounce off the 50DMA seems so perfectly orchestrated…

 

4 VIX Slams later, The Dow was back into the green for the week… $1 billion MOC did dull the close a little but hardly…

 

From record complacency to panic and back in just a few days… The last two days have seen the fastest reversal in VIX since the election…

 

From Friday's close, banks are back in the lead, bonds and bullion lagging…

 

But bear in mind, March has been ugly still for the big banks – worst since Jan 2016…

 

Off the opening lows from Monday, Trannies are best and "Most Shorted" stocks have been squeezed dramatically again…

 

With month-end malarkey underway, the S&P was ramped unrelentingly into the green for March…

 

AAPL traders could not get enough, greatly rotating out of SNAP… (AAPL gained over $15 bn in market cap today, that 1.5x TWTR!)

 

Fed VC Fischer was dovish with his view of uncertainty and just two more hikes and… The USD rallied!?

 

Yen weakness was the big driver of USD's gains back to unch on the week…EURUSD fell to 1.0799 before bouncing back

 

Swissy plunged after SNB's Marchler called the currency "strongly overvalued"…

 

Bitcoin slid lower as the USD ralied…

 

Treasury yields snapped higher today with 30Y back above 3.00% ands 10Y back above 2.40%

 

Year-to-Date, 7Y yield are unch; 10s and 30s are still lower and 2Y the owrst +11bps…

 

WTI and RBOB ended the day higher – despite a stronger dollar – but faded for most of the day after the opening gap…

 

Gold broke back below $1250 – back to pre-healthcare-bill levels – but Silver remains higher…

 

Finally, this summed up this week's market rather well…

//platform.twitter.com/widgets.js


Source: ZeroHedge