Looks like the Fed needs to get its hands dirty again.

Very odd.

MOVE index spiked the most in its history.

45% surge in one day.

Other extreme moves happened:

– Prior to the S&L crisis
– During the tech bust
– During the Oil & EM Crash

Looks like the Fed needs to get its hands dirty again. pic.twitter.com/9jeab3VQWW

— Otavio (Tavi) Costa (@TaviCosta) October 7, 2020

V-shaped recovery pic.twitter.com/hjS4EPJiQy

— Alessio (@AlessioTMAD) October 7, 2020

A massive 40% of $SPX Stocks are still down >20% from their highs.

This gauge peaked in JUNE – it's not just a narrow market, it's one of the weakest in history.

Unless there's substantial improvement soon, ANY selling of the few remaining leaders could trigger a Major decline. pic.twitter.com/6WkbYl1wLD

— Macro Charts (@MacroCharts) October 7, 2020

https://twitter.com/Hoz94s/status/1313716728132755456

https://twitter.com/edwardnh/status/1313843884624052224