Mar 24, 2021 AT 11:12PM

• Russell -2.4%, EEM -2.3%, Nasdaq -2%, SPX -0.6% and Dow unch
• MoMo/Val -12%
• ARKK -5.7%, FAANG -3.3%, TESLA -5%
• Solar (TAN US) -4.6%, Clean Energy (ICLN US) -4.5%
• XLE, XLF > XLK
• GS Most Shorted Basket -5%
• US 10Y = 1.61%, BBDXY = $1150 and Bitcoin =$52k
• Oil > $60, Brent +6% nears $65

US stocks closed sharply lower after tech sell-off resumed with Nasdaq closed lower by 2%. Energy, Banks were the best performers while tech lagged. Momentum was crashed over Value with the ratio plunging by almost 12%. Oil jumped with Crude futures rising more than 5% after the Suez Canal blockage sparked a panic bid in crude despite significant crude builds. This was WTIs best day since early Nov (the vaccine headlines). The dollar was also bid and is back to 2-week highs with BBDXY at $1150 handle and DXY testing its 200dMA. Cryptos were sold off with Bitcoin erased entire Elon Musk tweet gains and plunges back to $52k lvl while Ether dropped <$1600. Bonds were roller-coaster (bid during Asia, dumped during Europe, bid during US), but ended lower in yield on the day with US 10yr yields dropped back at 1.60%. This is the 3rd daily yield drop in a row, the longest streak since Dec 14^th.