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Falling AAPL Ends Nasdaq Anti-Gravity Streak

When your best AAPL pump just isn't good enough...

 

Here is the only chart that matters... AAPL's ~3% drop today may not be the AAPLocalypse for your average high beta muppetry stock, but for a nation of day traders - this is the 2nd biggest non-earnings day drop in 6 months for AAPL.. and yes it's only dropped to Friday levels but its really all relative...

 

The tumble in AAPL (and the broad market) appeared to occur as Crude oil accelerated nonsenically into the NYMEX close - breaking the high correlation between the two assets...

 

Despite a late day panic buying scramble to get Nasdaq green, it ended its streak today...

 

From the start of Yellen's testimony yesterday, stocks are  higher - thanks to the meltup in the last few mins...

 

and bonds are 10-12bps lower

 

The US Dollar limped lower today (modestly lower on the week) led by CAD and GBP strength)... down 0.5% from the start of Yellen's testimony

 

 

Silver gained notably on the day, gold less so alonmg with copper but crude's idiotic meltup mimics the same runs we have seen in other commodities this week\

 

Yeah it was deja vu all over again in the oil patch... huge builds, record production, Saudi commenbts discounted early and record inventories... BUY BUY BUY...

 

Charts: Bloomberg

Bonus Chart: Consider...

SSDQ pic.twitter.com/YHUQ4JqjXL

— Not Jim Cramer (@Not_Jim_Cramer)