King Dollar CATastrophe: Currency War Drags Dow Down Almost 300 Points
"Earnings Truth... You can't handle the earnings truth!!"
There are no belwethers left for talking heads to ignore...
Tech was weak on the day but we note once again financials falling...
Equity markets were weak before US earnings started...
Dragging everything red year-to-date...
As stocks were levitated higher after Europe closed until USDJPY hit 118.00...
"Most Shorted" stocks were once again squeezed... but this time they couldn't hold it...
Which leaves The Dow perfectly unchanged since QE3 ended...
The US Dollar weakened for the 2nd day - now down 1.4% this week... (notice the clusterfuck in Swissy as Europe opened and intervention chatter dumped and pumped it)
Which somehow is merely another derivative of oil...
Treasury yields ended the day unchanged after a huge roundtrip (but were starting to drop as stocks slipped late on)...
Gold, silver, and Crude all gained on the day as Copper gave all yesterday's "odd" gains back...
Crude ran up to yesterday's highs running stops but ended back below $46...
Since ECB QE, Gold and Silver are green, Crude and Copper lower still...
All eyes on AAPL now... which closed "not off the lows"
Charts: Bloomberg
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