Dow Rises To 9th Straight Record Close On Lowest Volume In Years

Tyler Durden's picture

The 9th record close in a row for The Dow (and 10th straight day higher - longest streak since Feb).


As one veteran trader exclaimed "holy smokes... never saw volume this low" -

This is the lowest aggregate S&P 500 e-mini Futs volume for this day in history since 2001...


This is easy...


For 13 days in a row the S&P 500 cash had closed with a 247X handle... Until Today...

2474, 2473, 2473, 2470, 2477, 2478, 2475, 2472, 2470, 2476, 2478, 2472, 2477... 2481

But this is the lowest volatility in the 90-year history of the S&P...


VIX dropped back below 10...managing to get the S&P 500 to close with a 2480 handle


Nasdaq was the clear outperformer (FANG up for 2nd day) and we note Small Caps were squeezed (on EU Close) and dumped...


As RBC noted earlier, over the past five sessions, a number of crowded sub-sectors have experienced notable profit-taking and reversal as per the below table (H/T RBC Neal Sullivan):


Treasury yields drifted lower through the US day session ending the day marginally lower...


The Dollar Index clung to most of its gains from Friday...


EUR was slightly stronger on the day as commodity currencies lost ground...


Just one thing - is it 'time' for a reversal?


Bitcoin surged over 18% from Friday's close to a new record high... 3rd biggest daily gain in the last 4 years


Silver continues to slide from its 50DMA after payrolls...


And gold was practically unchanged finding support again at its 100DMA... (though it did roll over into the close)


WTI Crude closed lower on the day but bounced back (for the 5th day in a row off its 100DMA)...


Bonus Chart: Yale Survey: 100% of institutional investors, 99% individual, expect higher stock prices a year from now.

      h/t @Callum_Thomas

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SloMoe's picture

Everyone all in? No more "cash on the sidelines?" Ok then, show your cards...

Mr 9x19's picture

we told ya, to the moon.

cap 30.000, now don't publish  any s&p chart until it is AT LEAST 29.000

Ghost of PartysOver's picture

All those charts are chart porn except the last.  It concerns me.  Hugely.

Tarzan's picture

Is it any wonder Buffets problem is too much CASH?

Buffett Nears a Milestone He Doesn't Want: $100 Billion in Cash

Another Oligarch, like an animal, waiting on it's prey, to profit from someone else's labor, by some fucking scheme, waiting on the crash he helped create!

So lets say it is different this time, What's an Oligarch to do when stocks, bonds and fiat burns at the same time, all in a day?

His dollars becomes worthless, and cant buy the cheap stocks, game over....

country boys survive

Son of Captain Nemo's picture

"Camel, meet straw."

WITH STEROIDS going on 8 years!!!

Juggernaut x2's picture

Shepwave says we are jerking off the dog to feed the cat- the Fed prints $ and buys stawks with it instead of getting that $ out into the real economy

fbazzrea's picture

now you're gettin' the hang of it... (;

FullHedge1's picture

2 of spades and 7 of hearts. I'll win.

Never One Roach's picture

Full emplolyment and record high Dow!


Those 98 million out of work must be a fiction?!


EHM's picture

But why low interest rates?

Cash Is King's picture

Buffett's got a $100 B laying around, I think he thinks there's more oportunity in the future at lower prices. I could be wrong.

garypaul's picture

Alert: King World News is now posting bullish articles from Jeffrey Saut. We will go from "all hell is breaking loose" to "we're going to the moon"

(it will take a couple of years, but THEN you'll know it's time to think about shorting)

jamesmmu's picture
Investors Simply Cannot Get Any More Bullish! Both The “Smart” Money And The “Dumb” Money Are Now 100% Confident That Nothing Can Go Wrong

Creepy_Azz_Crackaah's picture

Hey, it's about time that stawks mimic Bitcoin. Keep skyrocketing even though there is nothing there to back it. Well, stawks have something tangible backing them to some extent.

Nothing could ever go wrong.

Exota's picture

s&p 1 min and 5 min candle charts are schocking ,no trade what so ever ,a zombiehouse.

never seen this before

Juggernaut x2's picture

Bullard says "It's all bullish, bitchez! "

Squid Viscous's picture

even the Algo's are watching Family Fued re-runs, and jerking off occasionally.

monero's picture

This time it's different!

European American's picture

Does the Casino, excuse me, the "DOW" REALLY have much to do with the practical side (health) of the US economy?

D.r. Funk's picture

Not a dig at you. This obviously was the sentiment and assertion being made, repeated, and cliched, about 4 years ago. "Way behind", The statement is "Way" "behind", for anyone new or lesser initiated reading it

Mr 9x19's picture

the thing i'm sure of, is the next bail out will be...hard.... in the anus, i mean... you know... it gonna hurts.

pippi68's picture

It will likely entail "bail outs" via the taxpayers and "bail ins" via the savers and cash holders. Gold may be confiscated if located. There will be no safe place for your money next time unless you belong to the club of the elites who are above the law and have contingency plans. But no point in worrying about it until it comes to pass. There is little we can do.

Rainman's picture

Raise your hands, students, if you believe the headline numbers are nothing but a perverse policy tool.

813kml's picture

Big number good, not big number baaaaaad.

LawsofPhysics's picture

Bingo.  Several central bankers at the Fed have admitted as much.  Watch what is going on with real trade. Issues with trade and the producers of the world will be what starts the global currency crisis and ultimately WWIII.

D.r. Funk's picture

To the overseers cannibalizing vix trying desperately to detonate and extinguish bears:


i can wait

Iskiab's picture

One of the only days in a while where there wasn't an early dip and a rally at the end of the day creating a small percentage increase.

A tin foil hat person would say one of the first days without end of day volume buys to support the market increasing as a whole.

D.r. Funk's picture

Dow had an 11am reversal-subroutine program on it to +25, That was the close goal because the forced jump in the final minute to: +25, Naz primary tier had uncontested programming, and you can see spy merely following Lockstep

Keltner Channel Surf's picture

"You misinterpret everything, even the silence”

Keltner Channel Surf's picture

Thanks, been keeping a low profile, as quiet here lately as in the markets, has a 'calm before the storm' feeling about it, though many have been saying that for months.  Take care.

Implied Violins's picture

The water is slowly draining out of the harbors, the boats gently lying on the bottom; the beaches are barren, all the rocks exposed and naught but mud out to the horizon; there is a deathly silence, all the animals seem to have disappeared...


RUN FOR YOUR F*#$ing LIVES!!! Even now, you STILL might not make higher land in time!!

Citizen_x's picture


but...but shepwave said...

It's very nice to see you post once again.  Maybe bring a ditty/parody with you next time.  Maybe something from the style council....

Take care.

vegas's picture

Of course there is no volume ... there aren't any traders left willing to sell. The central bank manipulators are well on their way to ruining financial markets in the U.S., just like they've done in Japan. Congrats, you must be so proud.

DrumpfFire's picture

Good one,. What is your next joke?

venturen's picture

Sir Thomas More is the patron Saint of the Stock Market!!! His Utopian Vision has come to pass....unlimited money printing and stock market up everyday! Praise Be the FED!

The Cooler King's picture

Well after all, it's a day ending in "Y" so stocks must be up.

venturen's picture

Bernanke invented the Perpetual Stock Machine!!! New Highs without actually needing people! Hallelujah! 

D.r. Funk's picture

BenB has plausible deniability. of course. BenB proved many of us correct. thanks benb


The Cooler King's picture

Stocks have reached a permanenently high plateau of subprime being contained.

ToSoft4Truth's picture

You guy's going to short it?


Shorts are starting to look juicy. 

Bubenthauser's picture

I sure as shit am. Today at ckose opening a core short. Not telling what and where, but this shitshow will not last long.

Ben A Drill's picture

I miss the 500 to 1000 point swings in the DJIA. I can't remember the last time, was it in 2008?

Juggernaut x2's picture

Jan 2016, but the PPT stepped in

Bubenthauser's picture

PPT and all their global buddies. That' when the tape *really* changed. Ask any trader.

Goldbugger's picture

Even the BOTS go on vacation too. Hey it's summer.

gouyou's picture

It always bug me when there is a DOW vs. S&P chart. It's really comparing apples with oranges: one is a return index when the other one is a price index. Not a problem here as the period is short enough, but still...