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Friday, March 29, 2024

Everything’s Fixed – Russian FX Halt Prompts Buying-Panic In Stocks

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Having once again broken its 100DMA, the S&P (and the rest of the US equity complex), the news that various platforms have halted FX trading in the Ruble (though they won’t enact capital controls) and a modest bounce in oil prices seems to have sparked a EURJPY and VIX-driven v-shaped buying-panic very-visible-hand ramp in stocks into the European close… because nothing says dump VIX protection and BTFD in stocks with both hands and feet like totally disastrous US macro data and a global financial system on the verge of collapse.

The Ruble was halted..

And that sparked a Christmas Miracle…

Which sent everything ripping higher

Thanks to EURJPY

A 50 point swing in S&P futures and 400 pint swing in The Dow…

Because oil prices dead-cat-bounce to $57…

Now we see if the European close prompts another trend reversal…

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