Spot The Non-POMO Day

Tyler Durden's picture

While correlation is not causation (and money doesn't grow on trees), the following chart (of the Dow's performance from the open to 1130ET - the typical end of Fed's daily POMO) may help explain today's 'surprising' weakness (for now) from the open despite the 'goldilocks' data...

 

 

and while we are at it, it appears that volume/breadth is not confirming any of the recent strength...

 

Chart: Bloomberg