The relative strength in VIX futures which is a bid for protection based on fear and the relative move or even the outright in Treasuries-TLT is enormous, HYG has been used as it looks like there's no stopping the other two and there's only the 3 assets.
There appears to be a move to try to send the risk currencies higher, the AUD, Euro, EUR/USD, etc and the $USD lower. Some of these have made very strong moves against the market like the $AUD so that may fly on an oversold basis, but currencies themselves don't seem to want to cooperate, they are apparently being set up to be forced to, whether that can happen by the close or not is an unknown.
On a different note, I haven't seen this kind of desperation since the PPT went in to action in early 2009, every time the market threatened a new low, they'd pop in with the same kind of maneuvers, David DT (a lot of you know him) and I were trading together at the time and we could call the intervention within 10 minutes based on where the market was.
Even during the obvious POMO days, I've never seen anything like this, this is different too in that the natural, organic demand for protection is so strong, this is what is really forcing them to push and pull on anything they can.
5 years ago
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