Sell off

MS “FANG”   Index  down .7% ,NDX -.6% and Spoos  off highs by Some 33 handles as Risk On turned into Risk off.Consensus on Catalyst is hard to Come.Tick Data which measure buying  or selling pressure equaled lowest level in 6  weeks indicating some big sell orders coming through today.Quarter end Month End activity possibly the cause and also just a convenient excuse when no one has an answer.

2s10 yield spread new lows as spread traded as low as 31.97,trend is down recession fears higher.A break of Most recent lows might have caught Stock traders attention and helped to push stocks lower.

Dollar trading above  the danger zone the 95 handle. Market does not like when dollar is above this level especially Emerging market bonds   and Stocks ETF they are testing session lows as dollar presses higher. Risk On To Risk off,Upside Momentum stalled whatever  may be reason  you have to pay attention to 2700 handle below In spoos as this is the new major support area.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.