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Dow Outpaces Nasdaq For 3rd Straight Day; Bonds, Bullion, & Bitcoin Bid

Courtesy of ZeroHedge View original post here.

A volatile day got ugly fast early triggered by the inflation data but was rescued by relatively positive virus reports from various states sparking the usual buying panic in stocks. A late-day panic-bid rescued everything of course as a MoC buy hit the tape…

The Dow rose 600 points, back above yesterday’s highs, finding support early on at the 200DMA…

From the June 8th highs, the non-Nasdaq indices are coming back a little…

But, Nasdaq was the laggard once again with The Dow outpacing it for the 3rd straight day - the biggest outperformance in 4 months…

And while stocks overall were bid (led by the Dow), investors also bought bonds…

Source: Bloomberg

They also bought bullion…

Source: Bloomberg

And they bought Bitcoin…

Source: Bloomberg

You want the truth!

You can’t handle the truth!

Value outperformed Growth for the second day in a row…

Source: Bloomberg

FANG Stocks plunged over 10% from yesterday’s highs before bouncing back intraday…

Source: Bloomberg

TSLA could not hold its manipulated opening ramp gains for the second day in a row…

WFC was ugly as JPM clung to gains after earnings…

Source: Bloomberg

10Y Treasury yield closed near 3-month lows…

Source: Bloomberg

The Dollar reverted back to the lower end of its recent range…

Source: Bloomberg

Cryptos were mixed today, weak overnight but bid from the European open…

Source: Bloomberg

Commodities didn’t move too much today aside from oil which bounced during the US day session (ahead of tonight’s inventory data)

Source: Bloomberg

And finally, for all those panicking about a “second wave” and demanding nationwide lockdowns, perhaps an uncomfortable glance at the rate of deaths might change your mind about just how much hysteria is required…

Source: Bloomberg


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