What every Biotech bubble-owner, Greek FinMin, and Chinese housewife is asking right now... it seems everybody is shaking down everybody, creditors shaking down Greece, Greece shaking down local governments; and "markets" shaking down their central planners with these brief reminders of what happens if they don't get their money...

It all started early...with a pump off the China QE news and a dump seemingly triggered on USD weakness post-Greek FinMin Varoufakis "containement"...

The cash indices just could not hold any BTFD ramps... 7 Dips bought and failed... Dow outperformed (AAPL), Small Caps underperformed...

Nasdaq was Knackered by a breakdown in Biotechs... down 7.5% from Friday highs and back below its 50DMA...

This is the first close below the 50DMA since October...and worst day in over a year... when Janet Yellen warned! (not we mnade a lower high before this dip for the first time)

And The Dow was saved by AAPL.. ahead of earnings...

Treasury yields held a fairly narrow range - higher yields into the US open, then a rip lower as the dollar dropped.. then weakness again after Europe closed...

The Dollar dumped when news of Varoufakis 'containment' hit but bounced a little after Europe closed... (note CAD and AUD strength around 10ET... as commodities soared)

The Dollar Index touch ed a one-month low before bouncing...

Commodities surged as the dollar dumped then stabilized...

Notice the pattern in silver around the US open.... didn't quite worry that way today...

Whether the catalyst was Varoufakis knock on effects into the dollar or this was driven by a realization that China QE means hard assets get bought next as China's Mo> suggests is unclear... but for sure the flows were heavy and aggressive.