Stocks Surge To Best Day In 4 Months As Warmongery & Tax Talk Trump Debt-Ceiling Doubts

Tyler Durden's picture



Thanks to The White House saying something de minimus about Tax Reform progress (and a little help from Boeing after Trump's warmongery), Nasdaq was the day's best-performer as The Dow had its best day in 4 months...




Futures show the driver of the actions...


Bonds & Bullion were sold post-tax-headline as stocks surged...


Most-Shorted stocks surged/squeezed to their best day in a month (after 5 straight down days)...


VIX was smashed down below 12 at the open amid Trump Tax chatter...


The S&P ramped all the way to the 50DMA (having bounced perfectly off the 100DMA yesterday)...


This week's bounce has an odd sense of deja vu all over again...


S&P VIX dropped back to 5-day lows but Nasdaq and Russell vol remains elevated...


S&P traders are actively hedging with Put/Call Open Interest Ratio at its highest since July 2015...


And ironically, there has never been more money bet on volatility dropping (SVXY AUM at record high $1.3 billion)


FANG Stocks had their best day in over a month...


Treasury yields rose 2-3bps across the curve today with 7Y underperforming...


30Y Yield hs now traded in a 3bps range for the last 3 days...


Meanwhile, debt ceiling concerns remain high in the T-Bill market....



The Dollar Index rallied today after Trump Tax headlines...


Cable was weakest and Yuan modestly stronger against the greenback on the week...


And the 2016 analog is at an inflection point...



Industrial metals had a bad day after days of surging...



Crude pared earlier gains after Libya announced security forces reopened a valve that had been closed on the pipeline linking Libya’s Sharara oil field, the nation’s largest according to Petroleum Guard. Tonight's API data will likely drive the next few hours...


Gold was down on the day, not helped by a stronger dollar, with some notable vol around the Tax headlines...


And finally this 1987 analog is really starting to get spooky...

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Kaiser Sousa's picture


fucking hilarious…

200 point move on the Dow Jones Propaganda Index on the escalation of hostilities in Afghanistan & continuing “hope” & “talk" of the parasites on  both sides of the puppet gallery in D.C. getting together on a tax deal…

total fucking bullshit…


LawsofPhysics's picture

Indeed.  The free money (NIRP/ZIRP) for bankers and financiers continues, fuck everyone else.

Let me be clear, roll the motherfucking guillotines, NOTHING changes otherwise.

DWD-MOVIE's picture

I’m making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do…

D.r. Funk's picture

This looked like the (orchestrated) setup with +50dow around midnight. Pretty conspicuous lately. [Maybe the deepstate-aligned Afghanistan announcement gave them a symbolic thumbs up]

Then the full trading session uniform straight line increase, of, course. They continue to play both sides, et al The china trade inflammation now, following russia sanction. They continue to elevate the mountaintop. While setting up or KNOWING the breakdown tipping point. It's, obvious. That's all that the index increases are, NOT a beneficial central-bank economy lifting as some propaganda agents lol are trying to condition on. The complete index control and commandeering which I started asserting... almost5yrsago

The Ram's picture

Nothing like MORE War to get the animal spirits cooking!  The smell of napalm in the morning, you betcha!

ThirteenthFloor's picture

Lest the free flow of heroin and rare earths, like lithium and you guessed it gold. Adds new meaning to Mnuchin's - "the golds safe" on the same day as Trumps war pledge.

Afghanistan - 1 trillion dollar motherload...

jamesmmu's picture
Market Breadth is collapsing, the market is rolling over and the crashiest time of year is approaching. What happens next?

George costanzas shrinkage's picture

Ceiling lol this mother fuker aint got no roof to the moon bitches

vegas's picture

Pre-planned to save stocks from the PPT and the Pols, all at the bidding of the TBTF banks who sold back to those they brought from last week. Let's roll the rock back up the hill one more time.

D.r. Funk's picture

I contended a few years ago that some of the stock pumping was Money Laundering. Literally. Money laundering. Transfer from CBs or shadow wallst to banks who can sell into, the surge, I don't think I was too far off...

Rainman's picture

Just buy every fucking dip since 1987 !!!

spastic_colon's picture

ZH needs to log their scales.....1987 = -30ish% so the 2017 RH scale needs to go to 1450ish otherwise these cut and paste graphs are useless.

shizzledizzle's picture

Gartman short rally.

Squid Viscous's picture

meanwhile, the vix was clubbed like a baby Palestinian

1stepcloser's picture

I'm loading up on the VXX.  Once the run for exit starts, the VXX to the moon.

Clock Crasher's picture

Dow consolidate above and below 22,000

Next stop 23,000

Number of days  Gold closed higher since the election of SomaSalesMan aka MegaPsyop aka DJT.. still... ZERO

Last higher high in Silver... ONE YEAR and counting

rayban's picture

Today looks more like the bounce on 8/9 than anything else. We'll see by the end of the month where we stand.

D.r. Funk's picture

Yeah, notice the dow close 21899.89, just coincidence certainly

back to basics's picture

Wait and see what happens when the debt ceiling is lifted. It will make this rumpfest look like nothing.

It's criminal but it is what it is. 

Seasmoke's picture

The Demoncrats now love Trump. Dow 36,000.

Grandad Grumps's picture

Seriously, not! But we sympathize that you are paid to lie. Life sucks for you.

We all know the made up reasons for market moves are complete bullshit. Price is managed to benefit the few. The only premise is that there has to be a buyer of last resort because since price means nothing unless there is a buyer. Fortunately for the parasitic criminals, they create money out of thin air and can give as much of it as they want to themselves at any time.

No doubt they have no conscience and no doubt, the money they take and value they steal feels just as good to them as if they earned it doing something worthwhile or beneficial to humanity.

.... because they are "richer" than we are and have no interest in fitting camels through needles or making their heart as light as a feather.

Barney08's picture

Welcome back my friends to the show that never ends we're so glad you could attend come inside come inside. 200 ppt on the DOW, 1% on the 500. What a complete Joke.

Fooling most of the people all the time.

D.r. Funk's picture

Middle finger from the truthtellers

Rebelrebel7's picture

Tell us  the truth!!! 

adr's picture

Since we no longer have an economy where working matters and everyone is chasing everyone else in get rich quick schemes, leading to housing bubbles, stock bubbles, art bubbles, crypto bubbles, and E-bay bubbles, what is the fucking point of this stock market shitshow?

What kind of algo bullshit is that in crude at the end of the day? Some fucker had a tractor beam on $47.82 guess somewhere that number was a perfect Fibonacci wave for some Virtu algo.

I'd love being an executionor for algo programmers and ivory tower traders, plus Ebay scalpers. Fuck those latino housewives who buy every fucking toy with their nephews dug money and sell the shit on ebay for 400% markup.

Did you know there is a $150 bot that will run through Walmart, Amazon, and target's checkout hundreds of times a second to scam order anything. It was used today to buy out the entire inventory of a Nintendo system so a few Ebay whores could scalp hundreds of systems.

I really despise the world we live in today.

I'd whip Meg Whitman ten thousand times for expanding that wastehole Ebay. I'd actually applaud the entire internet going dark. yeah, we'd lose places like Zerohedge, but to get rid of Facebook, Amazon, Ebay, and the rest of Silicon Valley, it would be a plus.

Squid Viscous's picture

Nintendo? is that like Donkey Kong? wtf? who cares?

but plus one overall.

buzzsaw99's picture

gartman you magnificent bastard.  lol

Clock Crasher's picture

The theater doors are welded shut.

Deep Snorkeler's picture

An Era of Permanent Prosperity

1. low oil price

2. low interest rates

3. a corporatist President Trump

4. algorithmic robot trading

What could go wrong? 

Borrow money and buy, buy, buy.

Get your wife pregnant!

khakuda's picture

Get your wife pregnant made me laugh.

While you are at it, run with scissors to the pool, eat a ton of food and go swimming right away.  You can't lose!

LawsofPhysics's picture

Yes, on paper anyway.  What about getting someone else's wife pregnant?  Does that count?

ReturnOfDaMac's picture

It may not count but its the smart thing to do!

khakuda's picture

On the bright side, if the market had stayed down by the whopping 1-2% it was off the highs, Jackson Hole would have been used to tell everyone that much more money would have to be printed and the rate increases would have to be delayed because of those harrowing, decimating market declines.

Squid Viscous's picture

still using vix products to goose the index's after hours.

guys turn your machines off, and go try to get laid or something,

c2nnib2l's picture



but it's different this time 

gm_general's picture

The market is using VIX Vapor-rub to make it all better.

GoldHermit's picture

Well the real debt is somewhere around $100 trillion. Congress will keep raising the debt ceiling until they reach that level because they have no choice. They will also print tons of money because tax revenues will not begin to cover this. Ask yourself, when is the last time they failed to raise the debt ceiling? I can't think of one.

Fundies's picture

Eclipse Rally.

DaBard51's picture

'Bout time, some decent chart porn...



When nine hundred years old you become, look this good you will not.