"It doesn't learn…"
Post-Fed = everything is up…
Small Caps are the biggest post-Fed winners…
On the back of a huge short squeeze…
For a brief moment, VIX surged back up to credit's reality… but no longer…
But VIX was crushed back to an 11 handle…
On the back of no volume whatsoever…
Nasdaq new record highs…
As Credit Suisse notes "The Nasdaq 100 is again attempting to break above its key tech bubble high from 2000 at 4816, and has now managed to extend strength above trendline resistance at 4871. Follow through above the latter level would confirm an important bullish continuation pattern and signal that the medium-term trend has turned bullish again for 5000 initially. Extension above here can look on to trendline resistance projected from the October 2007 peak and Fibonacci projection targets at 5250/89. We would allow for an initial cap here, but if overcome can then see further strength to measured pattern targets at 5335/95."
as AMZN broke above $800 for the first time on record…
Bonds were bid… with the long-end massively outperforming…
The yield curve has collapsed 13bps since The Fed along with the USD Index…
As yields and stocks decouple completely…
While the USD Index continued to weaken, once US equity markets opened, the USD rallied…
Commodities continue to blast higher, led by Silver's surge…
Oil trading was ridiculous around the NYMEX close…
But since The BoJ, precious metals have been on fire…
So to summarize: Growth Down, Hope Down; Bonds Up, Gold Up, Stocks Up, VIX Down,… Fed Up?
Charts: Bloomberg
Bonus Chart: Bond/Stock Correlation has only been this high once before… Oct 2007
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