Down!

Well that was a day... Tillerson/Lavrov presser sparked a small relief in the safe-haven trend (sending the dollar and bond yields higher) but then Trump's comments on China, Dollar strength, and Yellen sparked a serious reaction...

US Equities were lower on the day...

The S&P closed below its 50DMA for the first time since before the election...

Bank stocks ended the day in the red for 2017... and gold the year's big winner....

And the Big Four were tumbling ahead of tomorrow's earnings...

S&P Tech stocks dropped for the 9th straight day - this sector has only had a longer losing streak once in its 28 year history (in May 2012)

VIX topped 16 for the first time since the day after Trump's election...

The VIX term structure has massively inverted around the French election and Debt Ceiling...

High Yield bonds are glued to their 50DMA...

Treasury yields fell once again...erasing all of Dudley's sell-off

to their lowest levels since right after the election...

The big dollar drop on Trump's comments hit every major...

But it's USDJPY that remains the most sensitive...Kuorda truied 3 times overnighnt to ramp USDJPY and failed.

Commodities were clubbed like baby seals...

WTI and RBIOB broke their winning streak and copper was hammered...

Gold gained once again (up 7 of last 9 days) to $1285 with bond Silver and Gold above their 200DMA...