Nothing to see here, move along…China commodity carnage, US data dismal, and a Fed meeting that has to err on the side of hawkishness…

 

The commodity carnage in China continued overnight…

 

But for the 4th day in a row, authorities intervened to support Chinese stocks…

 

And that provided some hope oveernight into the US open…

 

On the day – very mixed – Nasdaq underperformed but Trannies & Small Caps squeezed higher…Dow/S&P Unch…

 

Once again, VIX was smashed into the close in an effort to maintain Dow 18,000…BUT FAILED

 

Another day, another short squeeze…lifts Trannies & Small Caps

 

AAPL was chaotic today into earnings…

 

FANGs had their worst 3-day run in almost 3 months, back to 6-week lows…

 

Treasury yields rose for the 2nd day heading into The Fed meeting, with a wider range today…

 

The USD Index drifted lower once again… (though notably JPY weakened also)…

 

Copper drifted lower – dragged by the industrial metal collapse in Chinas but crude and PMs all rallied on the weaker dollar…

 

Crude algos panic-big oil prices above $44, running yesterday's high stops ahead of tonight's API report…

 

Charts: Bloomberg

Bonus Chart: Macro madness…

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