So the world (including former president Obama) exclaimed at the chaos that Trump withdrawing from the Iran nuclear deal would unleash… and yet, VIX is monkey-hammered to a 13 handle and stocks surge…
BTFINDWD!!
(Buy The Fucking Iran Nuke Deal Withdrawal Dip)
“Something very important is happening here guys… we are breaking out of a range” admired Bob Pisani, adding “maybe the bulls are starting to regain control of the narrative.”
However, today’s momo ignition was the perfect mini-storm, running the S&P through green for the year stops, 50DMA, and testing the down-trend-line as well as the 100DMA…
Don’t hold your breath Bob.
All major indices are green for the week…after Iran Nuclear Deal Withdrawal Dip…
VIX plunges to its lowest close since Feb 1st and tests the 200DMA…
Tesla stocks continue to buck the bond battering trend…
The Solar ETF surged after California mandated every new home have solar installed…
Bank stocks continue to rebound…
Meanwhile Tech continues to surge ahead of Financials… to levels only seen at the ultimate peak of the dotcom idiocy…
Defense stocks remained positive post-Trump BUT faded all day today…
Treasury yields rose 2-3bps today…
10Y Yields topped 3.00% again today.. and it seems this time stocks don’t care…
5Y Breakevens are back at their highest since April 2013…
The Dollar Index ended the day practically unchanged with the dollar selling off since Europe opened overnight…repeating the same pattern of the last few days…
The Ringgit was routed (along with the Malaysian stock market) as the opposition (who has previously pegged the Ringgit and installed capital controls) looks to win the election…
Cryptocurrencies rebounded modestly during the US day session but remain lower oin the week (aside from Bitcoin Cash)…
Gold, Silver, and Copper trod water today as Crude spiked…
WTI Crude topped $71 (and Brent is trading at more than $6 premium to WTI – spiking from $5.20 yesterday)…WTI has retraced over 50% of the 2013 to 2016 slump…
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