Stocks Continue To Soar But Bonds, Bullion, & The Greenback Ain't Buying It

Everything is awesome, right? (just don't pay attention to bonds, gold, or the dollar)...

(Click on image to enlarge)

Well, it had to be higher on SOTU day...

Chinese equity markets remain closed for the lunar new year holiday but yuan surged overnight - erasing the plunge from the day before...

(Click on image to enlarge)

European equity markets soared, playing catch up to US markets' ramp and continued into the close (with FTSE 100 outperforming)...

(Click on image to enlarge)

US equities rampaged higher at the cash open once again but dipped notably shortly after EU closed.

(Click on image to enlarge)

On the cash side, Nasdaq outperformed thanks to a rebound in GOOGL...

(Click on image to enlarge)

Today was a double-rainbow day - two short-squeezes for the price of one...

(Click on image to enlarge)

The S&P was unable to break its 200DMA...

(Click on image to enlarge)

US Equity market breadth is extreme, to say the least, and stocks are "overbought"...

(Click on image to enlarge)

Nasdaq is the most overbought since its highs in August...

(Click on image to enlarge)

But it seems the Buy-The-Afternoon-Dip trade just won't stop...

(Click on image to enlarge)

FANG Stocks soared again but some are wondering if a head-and-shoulders is forming...

(Click on image to enlarge)

VIX collapse continues (back to a 15 handle), likewise, credit spread compression charges on...

(Click on image to enlarge)

Despite the equity market gains, bonds were also bid today...

(Click on image to enlarge)

Notably, 10Y was bid off the pre-Powell highs...

(Click on image to enlarge)

The dollar index lifted modestly but remains stuck around the pre-FOMC highs range...

(Click on image to enlarge)

Cryptos went nowhere fast...

(Click on image to enlarge)

Copper continues to rise but crude tumbled for the 2nd day in a row...PMs flatlined.

1 2
View single page >> |
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.