Extreme Greed…
Squeeeeze….
Bonds Up, Stocks Up, Gold Up, VIX Up…
Dow, S&P, Small Caps and Trannies all hit a record high today
The European close once again seemed to trigger another buying algo (although Trannies were already on their way)…but what looked like a vertical melt-up went even more vertical-er… (two words – "random walk"?)
VIX was up above 12 once again despite the melt-up…Very different regime change today in VIX complex…
3rd day in a row of massive short squeeze…
Trannies hit a new intraday record high today (for the first time in 2 years) in what can only be described a vertical meltup.
Trannies up over 24% YTD!! And up 43% from the lows…
From the pre-Trump lows (remember when Comey cleared Clinton) Nasdaq is the laggard (up just 3.6%) as Small Caps and Trannies are exploding…
When Trannies broke record highs, it appears some S&P e-mini algo panicced…
Biotechs were the day's biggest laggards following Trump's drug price tweet overnight…
It seems Energy stocks love falling oil prices…
And Financials love flattening yield curves…
And Goldman Sachs stock loves it when its credit risk increases…
This will not end well… 10Y Yields are below post-Italy lows as the US equity market exploded higher…
Stock and Bond correlation continues to decline..
The USD Index closed lower on the day…led by EUR strength ahead of ECB?
Treasuries were bid across the board today with notable flattenening and the long-end yields at post-Italy lows…
Crude oil dared to disobey the buying panic, breaking below $50 intraday…and closed ugly…
As Nanex notes, Crude market's broke and went crazy this morning….
A wider look at the 9am Crude event — because it's pretty #art (the blue lines are oil related) $CL_F pic.twitter.com/jGek7A7u7X
— Eric Scott Hunsader (@nanexllc) November 29, 2016
Gold and Silver gained on the day…
Copper was also down…
There's this…
And finally, we leave with you with this…
"You Are Here" pic.twitter.com/0D8reAwXsI
— Quoth the Raven (@QTRResearch) December 7, 2016
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