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Friday, March 29, 2024

Taxphoria Sparks Stock-Buying Panic – Dow Does Something It Has Never Ever Done Before

Courtesy of ZeroHedge. View original post here.

This…

The Dow closed at its 70th record high of the year… it has never done that before in its 100-year-plus history.

Additionally, S&P is most overbought (weekly RSI) since 1958…

There have been no down months since Trump elected and 2017 is shaping up to be a ‘Perfect Year’

This would be the first time ever that stocks had 12 monthly gains in a row in a calendar year…

On the day, everything in stock-land was awesome… Trannies and Small Caps outperformed, Dow and S&P gained but lagged on the day…

Futures show the excitement was after the close on Friday, at Sunday’s open, and at this morning’s open…

Most-Shorted stocks soared 3.5% in the last 2 days as another squeeze surged markets higher…

‘High Tax’ companies actually outperformed…

Retailers (black) continued their rip higher (Utes underperformed)…

And it would be rude to end today without mentioned LongFin… which was halted 18 times today!!!

For once, the yield curve steepened today – after its biggest flattening week in years last week…

In fact this was the biggest percentage steepening in 2s30s since the election..

The Dollar ended the day lower but bounced notably into the EU close and beyond…

WTI Crude ended the day lower by copper, gold, and silver gained…

Gold gained as Bitcoin slipped today…

Bitcoin Spot had a modest down day but Ethereum soared to a new record high…

Bitcoin Futures (CME and CBOE) drifted lower from their open, compressing the premium to spot…

Meanwhile, Citron is massacred at the Bitcoin Trust (GBTC) explodes 25% higher to a 70% premium to NAV (and a $27,000 implied Bitcoin price!!)

Bonus Chart: WTF!!!

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