Harry Reid Speaks; Stock Market Leaks

Tyler Durden's picture

It was all going so well. In general the cone of silence was working. Stops had been run, hope was among us once again and while no-one had a clue why stocks were rallying (apart from Johnny 5), the interpretation was that - well the market must believe a deal is being done... until Harry Reid opened his mouth....

  • *REID: REPUBLICANS HOLDING MIDDLE CLASS TAX CUTS 'HOSTAGE'
  • *REID SAYS REPUBLICANS HAVE OFFERED NO SPECIFICS ON WANTS

and S&P 500 futures dropped 5 points - halving the day's gains.

 

SURPRISE!!! Stock's gains were not sustainable over risk..

 

Charts: Bloomberg and Capital Context