Entire 'Market' Rallies On NFLX Price-Hike - Shrugs Off Dimon, May, & Grassley

The House of Commons to Theresa May...

China stimulus chatter prompted some excitement, lifting Chinese stocks from Monday losses...

European stocks opened excitedly (China), faded notably, then ramped after US opened to close in the green for the day (leaving DAX and CAC unch for the week)...

 

Quite a day in US markets...

Overnight headlines on China stimulus juiced futures to start which then faded as Europe opened...

 

JPM earnings disappointment (along with WFC) dragged stocks lower into the open but a Netflix price hike prompted panic buying which was then dumped as Senator Grassley confessed "little progress" in China trade talks... but by then the machines had made up their mind and we ramped to the day's highs once again ahead of the Brexit vote. Stocks tanked as voting began and seemed triggered on a failed amendment as algos got confused. The Brexit deal was rejected (historically so), but stocks did not bounce back)...

 

Some serious buying program stepped in again after 3pmET (highest TICK in a week) after some selling on May's defeat...

Nasdaq managed to get back above its 50DMA but none of the other majors did...

The S&P's 61.8% retrace of the December drop and the 50DMA are in the same neighborhood here with strong trendline resistance also...

NFLX announced prie3-hikes and investors panic bid the stock (and dragged all FANG and Nasdaq higher)...NFLX is up 32% year-to-date!!!

JPM managed to mimic Citi's moves yesterday as it ramped into the green during the day session after pre-market losses...

Citi is now up 18% year-to-date...

VIX was crushed again (to a 17 handle intraday) but credit did not play along)...

Modest shifts in Treasuries today with the long-end underperforming...

30Y Yields are back at their highest since

 

The dollar surged overnight and extended its gains into the Brexit vote - then as cable squeezed back higher, the dollar sank...

1 2
View single page >> |

Disclosure: Copyright ©2009-2018 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every time ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.