S&P Stalls At Key Technical Level As Earnings Expectations Crash To 6-Month Lows
Please ignore this...
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"nothing to see here, move along"
Chinese stock markets remain closed for lunar new year celebrations, but we note that yuan slipped back...
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Italian stocks rallied - after massive demand for their bond issue - but the rest of Europe flatlined...
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Stocks tried, tried, and tried again to ignite momentum into the green but failed...(Nasdaq and S&P were the laggards on the day)...
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Futures show how desperate the algos were to keep pumping stocks to green...
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The S&P was unable to break above its 200DMA for the second day in a row...
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And has reached the most overbought level since the peak last year...
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It seems there is some mysterious bid that appears around 315pmET and lifts the market into the close (for 13 days in a row now)...
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FANG Stocks fell today... (shock, horror!)
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Stocks and bond yields have decoupled once again...
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Treasury yields ended the day practically unchanged, chopping around in a 2bps range...
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The short-term market continues to price in rate cuts in 2019 (6bps)...
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The dollar (soared) decoupled from bonds yields (lower) in the last two days - we have seen this before...
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The dollar is up 5 days in a row (longest streak in 4 months) - surging back above FOMC levels...
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The USD strength was dominated by Euro weakness...
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And Aussie tumbled after RBA comments...
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Some chaotic moves in Cryptos today...with Bitcoin Cash flying around
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PMs faded on the dollar surge today but WTI bounced back as copper held gains...
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Gold dropped back below pre-Powell levels once again...
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WTI rebounded back to $54, despite notable builds today...
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Gold faded in Yuan terms too...
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And so finally, going back to where we started, consider the following...
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And what do global bond markets know that global stocks don't?
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