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S&P New Record High As Crude Crash Continues To May 2009 Lows

Tyler Durden's picture




 

Summing up the last two months...

 

and in chart format...

 

After weakness overnight (GREXIT fears), stocks saw panic-buying back to record highs at the US cash open thanks to extreme high beta to USDJPY's momo ignition... and while Treasuries rallied, GDP expectations were smashed lower, and crude prices crashed-er, stocks ended mixed to green.

 

Big short squeeze at the US open... (but it didn't hold)... notice the squeeze again at 1425ET when Tepper told CNBC that 2015 would be a good year!!

 

Ignited by USDJPY...

 

The cash indices ramped at the open and faded (apart from Trannies). Tapper's comments sparked a rally in the late day... another weak close (3rd in a row)

 

But futures show the roller-coaster better as GREXIT fears stumbled stocks overnight...

 

Treasuries rallied... (as The Santa Claus Rally seems to apply to them and stocks)...

 

Credit got the short-term lift but sold off all day after that...

 

The USDollar gained 0.25% on the day led by JPY and EUR weakness... with all the USD buying pressure starting as US equities opened...

 

The USD strength took the shine off PMs as oil prices collapsed lower (to a $52 handle briefly), copper was flat...

 

Crude had a modest rally early on Libyan tanker fires but very quickly started to re-crash again...

 

Which all makes perfect sense...

 

As does this...

 

Charts: Bloomberg

 

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Mon, 12/29/2014 - 17:08 | 5602646 localsavage
localsavage's picture

broken until further notice

Mon, 12/29/2014 - 17:15 | 5602680 Soul Glow
Soul Glow's picture

It was broken long ago.

Mon, 12/29/2014 - 17:18 | 5602692 in4mayshun
in4mayshun's picture

This baby is coming off the rails. They're making it so attractve to invest that it will lure in all the suckers on the sidelines wanting to make a quick profit....and it's gone!

Mon, 12/29/2014 - 17:43 | 5602791 TheFourthStooge-ing
TheFourthStooge-ing's picture

The S&P is on a crystal meth and PCP bender. It doesn't need to eat or sleep and it feels no pain. Nothing can go wrong because it feels like Superman.

 

Please do not worry - the hallucinations and psychosis are transient effects.

Mon, 12/29/2014 - 17:34 | 5602765 Winston Churchill
Winston Churchill's picture

If it was broke it would be right sometimes.

Reminds me more everyday of the Harare Bourse.kept rising until worthless.

At least 90% fake value, I'm a buyer at dow 1800.not before.

Mon, 12/29/2014 - 18:13 | 5602783 TheRideNeverEnds
TheRideNeverEnds's picture

Everything is working as intended.  You see we are safer, richer and healthier than at any time on record and besides the indisputable fact that this is the best everything has ever been in the history of humanity, when you also take into account the fact that central banks and governemnt have not only complete control of the 'market' but have committed to monetize, for all intents and purposes, an infinite amount of debt spending plus backstop all the derivative liability of the worlds banks this makes equities still severely undervalued from a long term prospective.

 

What is fair value on the S&P you may be wondering?   That depends on your time horizon, you see the S&P will go up forever and ever, there is no disputing this and though infinity is a bit abstract its safe to say if you invested now and have 20-30 years to retirement you will see substantial capital appreciation.  

 

Some may be laughing, well look at a chart of the DOW, if you had invested the day before the crash of 1929 20 years later you'd still have been down, 30 years later you were up nominally 50% that is 1.67% per year without dividends.   If you has invested the day before the 87 crash you were made whole by 91 and after 92 never took any heat, up 518% in the next 20 years 666% from the 87 peak to today or 23.78% annualized.   The 87 scenario is more pertinent to today, the FED and other central banks had not so fully captured the market in the first half of last century as the did the last quarter and now they control it even more-so.  

 

 

Mon, 12/29/2014 - 22:31 | 5603766 TheReplacement
TheReplacement's picture

No, they control perception.  The truth is that they are spending other people's money and we all know what happens eventually. 

Mon, 12/29/2014 - 17:15 | 5602679 monopoly
monopoly's picture

You mean there are still a few sheeples left that turn on the cnbc idiot channel and actually have the mute off. Really!?

Mon, 12/29/2014 - 17:16 | 5602682 Soul Glow
Soul Glow's picture

Pisani is as excitable as a 14 year old boy in a strip club.

Mon, 12/29/2014 - 18:20 | 5602909 Squid Viscous
Squid Viscous's picture

more like his first trip to Chippendales...

Mon, 12/29/2014 - 17:22 | 5602711 Wait What
Wait What's picture

US Stock Market: The Happiest Place on Earth®

Mon, 12/29/2014 - 17:20 | 5602712 Bay of Pigs
Bay of Pigs's picture

Layoffs have already started at the tar sands in Alberta. Very bad news going forward for the Canadian economy and govt revenues.

Next up: the massive Canadian housing bubble finally bursts.

Mon, 12/29/2014 - 17:29 | 5602741 Rakshas
Rakshas's picture

...... sorry but what page of the Canadian Goobermint financial plan is it that covers bail ins again??

 

Tue, 12/30/2014 - 02:48 | 5604328 Matt
Matt's picture

CMHC is explicitly government backed. I'm not sure if it was the federal budget or some other part where they covered the bail-ins in case of bank failure. Could be some pretty interesting times.

Mon, 12/29/2014 - 17:22 | 5602713 noben
noben's picture

Must be the "cheap energy" meme.

What's next? Zero Point Energy?

Mon, 12/29/2014 - 17:22 | 5602715 Dr. Engali
Dr. Engali's picture

All hail the almighty grandmama Yellen. With the touch of a button she can smash commodities  and elevate equity prices. Then after a long grueling day of controlling markets she goes home to bake us cookies. We are living in the golden age bitchez!

Mon, 12/29/2014 - 17:22 | 5602723 quasimodo
quasimodo's picture

How dare you insult Aunt Bea from Andy Griffith

 

Mon, 12/29/2014 - 17:21 | 5602717 Nostradumbass
Nostradumbass's picture

Off topic but I had to post this: 

Half of All Children Will Be Autistic by 2025, Warns Senior Research Scientist at MIT

http://www.anh-usa.org/half-of-all-children-will-be-autistic-by-2025-war...

 

PLEASE, lock up the nailguns at MIT!

Mon, 12/29/2014 - 17:23 | 5602719 quasimodo
quasimodo's picture

From the article

"The USD strength took the shine off PMs ..........."

Makes perfect sense to me, after all the dollar will never, ever, never everer die.

Mon, 12/29/2014 - 17:24 | 5602727 will ling
will ling's picture

"market" stats are meaningless. what's the point?

Mon, 12/29/2014 - 17:38 | 5602772 botegaveneta
botegaveneta's picture

Bottega Veneta prezzi ah! Oggi come
mella sarebbe così virtuoso. "Se è così, allora vi ringrazio Wu Ma, solo tu mi puoi guidare." Perché lei aveva appena detto Bottega Veneta vivere insieme, non è molto chiaro di suo gusto, e il suo cibo preferito è quello una delle cose che lei deve andare per scoprire esattamente che lei può trovare le proprie risposte alla Wu Ma voleva lì. "Anima gemella, tu sei gentile, questi sono ciò che devo fare." Wu Ma Ouyang Ricci Yuekan ma più piace, molto fortunato di possedere il suo Maestro portato indietro di tanti anni questo edificio di lusso ville di fine Con la strada di c.Bottega Veneta asa, non sembrava così vuota e deserta, spero di non vedere quali sorprese ci andiamo, far loro una persona la vita può sempre felici insieme ora! Il tramonto è magnifico, è quasi al tramonto, che è la parola migliore per utilizzare in questo momento, ma l'una, S sarà sempre godere della città vivace fioritura di notte stuporoso, perché il picco di lavoro, in modo che la strada sembrava essere un po 'congestione. Borsa outlet prezzi fastidio toccando il volante, si arrabbiò a guardare la strada di fronte a u.Bottega Veneta Borse n gruppo di Cipro, malcontento ha cominciato a comparire su Toshihiko, quando questa strada sono di solito non così il blocco ah! Oggi, come improvvisamente la spina dalla macchina in arrivo Non è forse mantenere una propria serie di gas Orologi di lusso Sollevare al polso guardò tempo, sembra che alcuni di casa di oggi sarà un po 'tardi, sì, ma se una donna piccola voglia di mangiare le loro parole. A Borsa outlet prezzi apatia quando improvviso scoppio di suonare in carrozza tranqu.Borse Bottega Veneta Outlet illa squillò Borsa outlet prezzi lungo stese la sua mano ha raccolto un lancio sul sedile del passeggero del telefono. "Ehi, orgoglioso del vento, perché" Borsa outlet prezzi ha iniziato la macchina, tenere di fronte traffico. Come, niente non posso darvi Bottega Veneta telefonate." Lengao vento si appoggia sul lato della porta, ma ha bloccato l'esterno Insein Gruppo per le età, ma non ha visto appare una donna odiosa. "Sì, certo, è ntano istantaneamente il dolore del cuore più buio verso il vento lo ha.Bottega Veneta Prezzi colpito, ha paralizzato tutta la sua percezione. "Personale Gu, come si fa." Ouyang Ricci lo guardò perplesso, capire perché tutto ad un tratto il suo volto era di nuovo pallido. Oh! Sto bene, solo un po 'mal di stomaco è stato stimato essere troppo lungo, non ha dovuto cucinare il vostro piatto, così ha cominciato a colpire." Gu Crossroad versare un respiro, cercando di reprimere la sua emozione, amaro sorriso, non sempre sono consapevoli c'è un tale risultato è Perché ancora non si adatta "Sciocchezze, non .Bottega Veneta Tote si è iniziato il tempo senza un pasto." Ouyang Ricci aggrottò le sopracciglia, è non accettare di prendere la propria salute cosa impropria. Oh! è stato trovato." Anche se rideva, ma solo lui sa come miserabile cuore sconfinato. "Ahimè! Tempi vostro stomaco che non ha fatto a causa di questo motivo ah! Persone Net preoccuparsi." Ouyang Ricci impotente lo guardò per tanti anni è molto difficile andare d'accordo non vuole sapere. Oh! La prossima volta sarà sbarazzarsi di." Gu Cro. Bottega Veneta www.bvoutletit.com ssroad Questo è veramente ridere, così buono, lei può scambiare per una cura occasionale, poi il suo dolore non sarà più così inutile. "Che ho orecchie per sentire parlare da bozzolo, tanti anni e non mettere un cambiamento." Ouyang Ricci snappily fulminò con lo sguardo, per la cura delle risaie terrazzate dal cuore della sua cura di, e Ai suoi occhi è una grande figura fratello esiste. "Questo è bene pensare a stasera, sono tornato a vedere che tipo di scusa per i prossimi più convincenti." Gu risaie a terrazze con il suo gioco ha ha! Sono, inoltre, non ha preso le sue parole a cuore, luce succhiare una tazza di tè, c'è una lieve ustione, lasciarlo involontario aggrottò la fronte. Ouyang Ricci ascoltato le sue parole molto debole alzò gli occhi, sapeva che questo ragazzo ancora superficiale se stesso. "Oggi un incontro di informazione hai letto" Ouyang Ricci sapeva che non sarebbe andato con lui invano di sentire che cosa una buo
bottega veneta milano
outlet bottega veneta

Mon, 12/29/2014 - 17:45 | 5602798 TheFourthStooge-ing
TheFourthStooge-ing's picture

Clearly the Russians are behind this.

Tue, 12/30/2014 - 05:17 | 5604422 Citium
Citium's picture

Shemp is your icon, but that comment was absolute Moe. +1

Mon, 12/29/2014 - 17:49 | 5602809 Pure Evil
Pure Evil's picture

Si, ese comprehendhe english.

Mon, 12/29/2014 - 17:40 | 5602777 Ban KKiller
Ban KKiller's picture

Nothing in the "market" has been worth the risk. At least not to me. OK, maybe a few penny stocks for the fuck of it but nothing else. Don't even know what pennies I own as they do not amount to much...yeah, lazy me. 

PM, on the correct hand, is doing fine. Ask the folks in Greece, the ones in the countryside, I mean. The city slickers are getting hosed by....the normal criminal, banks.

Mon, 12/29/2014 - 17:48 | 5602805 Atomizer
Atomizer's picture

Lower USD index, higher oil. Higher USD, lower oil.

 

http://futures.tradingcharts.com/chart/US

 

1. Euro - 57.6%

2. Japanese Yen - 13.6%

3. British Pound - 11.9%

4. Canadian Dollar - 9.1%

5. Swedish Krona - 4.2%

6. Swiss Franc - 3.6%.

 

The US Dollar Index and Spread Betting

 

This time it’s wide-open, old game drove down DXY to inflate equities and raise oil pricing. We hit 70 as a bottom . Today, with the assistance of Federal Reserve Janet, we hit 90 DXY and manage to reach GDP goals while oil is falling. The printing of inflated money has been exposed.

 

http://www.barchart.com/charts/stocks/$DXY

Mon, 12/29/2014 - 17:53 | 5602817 buzzsaw99
buzzsaw99's picture

And as we wind on down the road
Our shadows taller than our soul.
There walks a lady we all know
Who shines white light and wants to show
How everything still turns to gold.
And if you listen very hard
The tune will come to you at last.
When all are one and one is all
To be a rock and not to roll.

And she's buying a stairway to heaven.

Tue, 12/30/2014 - 05:24 | 5604427 Bearwagon
Bearwagon's picture

But "When the levee breaks" ...
https://www.youtube.com/watch?v=9NaQZojWi6U

Mon, 12/29/2014 - 17:53 | 5602819 jubber
jubber's picture

The overnight levitation has begun, Dax almost back to flat and ALL US futures rallying AH...not to sure why they bother opening during the day to be honest

Mon, 12/29/2014 - 17:57 | 5602832 alexmark2013
alexmark2013's picture
Half Price Sale: Monday's drop put US oil prices down 50% from the June peak of $107.26/barrel... Alaska stops spending on oil projects as prices tumble http://investmentwatchblog.com/half-price-sale-mondays-drop-put-us-oil-prices-down-50-from-the-june-peak-of-107-26barrel/
Mon, 12/29/2014 - 21:42 | 5602837 nakki
nakki's picture

K

 

Mon, 12/29/2014 - 18:03 | 5602857 kowalli
kowalli's picture

Yellen will tell us at the end -"your money are gone, thanks folks"

Mon, 12/29/2014 - 18:03 | 5602859 q99x2
q99x2's picture

The best day to buy is tomorrow. Get in ahead of the January effect.

Mon, 12/29/2014 - 18:05 | 5602864 Q-Q-Q
Q-Q-Q's picture

Working until...................................it doesn't.

Mon, 12/29/2014 - 18:28 | 5602952 Uber Vandal
Uber Vandal's picture

Anyone notice that Dr. Copper is not looking very well today?

The price it hit today, $1.93, is about 50 cents above its low of 2008 / 2009

http://www.infomine.com/investment/metal-prices/copper/all/

http://www.kitcometals.com/charts/copper.html

http://www.kitcometals.com/charts/copper_historical_large.html#5years

http://www.cnbc.com/id/102298244

Mon, 12/29/2014 - 18:33 | 5602983 razorthin
razorthin's picture

Somebody is full of shit.

Mon, 12/29/2014 - 19:01 | 5603097 disabledvet
disabledvet's picture

We all are..but are trying to reform.

That is my New Year's resolution. "No more swearing" either.

Mon, 12/29/2014 - 21:08 | 5603452 razorthin
razorthin's picture

Good for you.  Hope your head doesn't explode.  Mine would.

Mon, 12/29/2014 - 19:20 | 5603140 Freewheelin Franklin
Freewheelin Franklin's picture

Racking up a big bill with the Piper.  Kiss your kids while you still can. 

 

 

Mon, 12/29/2014 - 19:40 | 5603197 FiatFapper
FiatFapper's picture

I don't understand; surely there must be sellers for price to bid up, but after a 4 year bull-run, there aren't any discernible retraces...so who are 'they' buying from?

Tue, 12/30/2014 - 00:36 | 5604150 Rectal Hydration
Rectal Hydration's picture

Pan global algo driven central bank fuelled fraudulent criminal concentric circle jerk. Thought it was obvious. Never mind, just stfu and buy.

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