VIX Slammed To 11-Handle Sends Dow To Record-er Highs
Just as Gold was monkey-hammered late last night, we warned in the pre-open that it might happen and sure enough... VIX has been smashed back under 12 this morning, lifting the Dow to new record-er all-time highs and sending the S&P chasing its highs too... why not... Draghi promised to do something, sometime soon (even as the Fed is tapering and China says no more stimulus). What is really helping is USDJPY 102 once again which provided the opening ramp ignition. For all those on the 'healthy' rotation bandwagon.. the Nasdaq and momo names are outperforming (Nasdaq now unchanged for May) - so it's not that. Gold is up $25 from overnight lows and Treasuries are flat to modestly weaker as stocks smash higher.
VIX looks totally normal!!
As the overnight slam in gold has seen a $25-plus rally in the precious metal...
As USDJPY drives stocks to ever higher highs...
Taking the Nasdaq to unchanged for May (and Trannies soaring)
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