Was it really that easy - Buy The Election (hope), Sell The Inauguration (reality)?...

The Dow continues to cling to unchanged for 2017 (small caps red)...

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Since the inauguration...

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VIX was the main play thing in American markets again (but The Dow ended down for the 6th day in the last 7... NOTE - the overnight futures ramp dragged cash up to perfectly tag stops at Trump Address highs...

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Europe's VIX spiked most in 4 months today, above 17...

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Notably, Treasury VIX remains notably elevated relative to Equity VIX post-Trump...

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With SKEW at over 146, markets have only been more fearful of a collapse twice in its 27 year history...

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Breadth remains divergent for the S&P 500...

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But Kuwait is in panic melt-up mode...

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Bank stocks dropped once again (contining the trend of up-down-up-down started since the beginning of 2017)...

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Notably XLF - the US financials ETF - has fallen to key 50-day moving average...

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QCOM was crushed but it didn't really help AAPL...

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While the biggest Emerging Market ETF ripped higher today (as the dollar dropped), we note that it suffered a 'death cross'...

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While health insurers all tumbled on the the Aetna, Humana deal blockage, only Aetna held on to losses...

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Trumphoria is stalling as financial conditions have tightened post-election...

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The 30Y Treasury yield fell back below 3.00% - notably, the 30Y yield has gone nowhere since 2 days after the election...

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Treasury yields fell across the curve with the long-end outperforming...(note bonds did sell off after Europe closed)

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Two words - "policy error"?

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The Dollar Index extended its losses from Friday afternoon, stalling at Fed rate-hike lows...

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Yen and Sterling strength were the heaviest weights on the dollar index today but everything was bid against the greenback...

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While not the perfect analog, one wonders if the post fiscal year spike in the USD is starting to fade once again...

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Crude slide despite USD weakness but copper gained...

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Gold closed at its highest since Nov 17th...

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Bonus Chart: Turning Japanese?

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