This…
Well that didn't last long did it? Nasdaq hit a new intraday record high… But…Ugly Close though… VIX 13, S&P 2,200, and Dow 19,100 seem all that matters.
Stocks were up despite oil's tumble…
Stocks were up despite bond yields sliding…
Bank Stocks were up despite the yield curve crashing to 2-month flats…
Trannies and Small Caps re red on the day – note that stocks took off when Europe closed…
But stocks are still red from Friday… (apart from Nasdaq which seemed to get suddenly bid as it hit unch late on)…
Energy and financial stocks remain red on the week as Utes outperform…
For the 3rd day running, bond buyers were back in the US session… (30Y down 12bps from Friday yield highs, back below 2.95%, the lowest in 8 days)
The USD Index slipped lower for the 3rd day in a row…
It seems $45.00 is the line in the sand for now on OPEC headlines…
Gold was down once again – unable to break $1200…
And the Chinese commodity bubble is starting to burst as Shanghai Zinc Futures crashed by the most ever…
Finally we thought Bloomberg's Richard Breslow summed things up rather well…
…if you panicked Monday, your positions are too big or you don’t really believe the story and are going with the momentum…
A market driven on hopeful theories, as yet unsupported by concrete actions, requires the beast to be continually fed to maintain its momentum.
Especially when the rate of change has been so swift…
Seems like a big gap between hope and reality…
And notably, the BIS new "fear" index just reached 4-month 'highs' as the global dollar shortage escalates…
The post “Pause That Refreshes” Sparks Stock-Buying-Spree…But Ends Badly appeared first on crude-oil.top.