Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
Whether it was stocks, credit, gold, silver, oil, EURUSD, or conk shells, the message we were to believe was clear – BTFD today. As if by clockwork, Europe closed and US equity markets surged – seemingly forgetting that Europe will re-open again tonight but should you need any reassurance of what your pre-assigned Pavlovian role in this tragi-comedic dance-with-the-devil is – we suggest the following clip as a reminder.
or perhaps the following tweet we pushed earlier will clarify:
but of course – as a reminder – the only reason this market is ramped – is to enable size sellers to unwind a little more with a little less pain…and sure enough heavy volume and large average trade size stepped in and dipped us off the highs into the close of S&P 500 e-mini futures…
And while everyone will be chatting about Oil's drop and how great that is for consumers – well they BTFD there too so not so much sorry…
But for a little clarity of equity's exuberance – the late-day surge took S&P 500 futures well beyond risk-asset's view (CONTEXT) of the world as EUR and Treasuries were not buying it (after being highly correlated all day)…
As a side note on the hilarity, AAPL was one of the bigger dips bought today as it tested down to pre-earnings-week lows and closed the day-session today almost perfectly at yesterday's closing VWAP (must be sheer coincidence we guess) haveing found resistance above at Monday's closing VWAP (again pure coindince we are sure)…
And finally – our late-day tweet offering as much valuable advice as the most expesnive newsletter…
Charts: Bloomberg and Capital Context
