BTFD

Tyler Durden's picture

Whether it was stocks, credit, gold, silver, oil, EURUSD, or conk shells, the message we were to believe was clear - BTFD today. As if by clockwork, Europe closed and US equity markets surged - seemingly forgetting that Europe will re-open again tonight but should you need any reassurance of what your pre-assigned Pavlovian role in this tragi-comedic dance-with-the-devil is - we suggest the following clip as a reminder.

 

 

or perhaps the following tweet we pushed earlier will clarify:

 

 

but of course - as a reminder - the only reason this market is ramped - is to enable size sellers to unwind a little more with a little less pain...and sure enough heavy volume and large average trade size stepped in and dipped us off the highs into the close of S&P 500 e-mini futures...

 

 

And while everyone will be chatting about Oil's drop and how great that is for consumers - well they BTFD there too so not so much sorry...

 

 

But for a little clarity of equity's exuberance - the late-day surge took S&P 500 futures well beyond risk-asset's view (CONTEXT) of the world as EUR and Treasuries were not buying it (after being highly correlated all day)...

As a side note on the hilarity, AAPL was one of the bigger dips bought today as it tested down to pre-earnings-week lows and closed the day-session today almost perfectly at yesterday's closing VWAP (must be sheer coincidence we guess) haveing found resistance above at Monday's closing VWAP (again pure coindince we are sure)...

 

And finally - our late-day tweet offering as much valuable advice as the most expensive newsletter...

 

Charts: Bloomberg and Capital Context