The lack of World War 3 this weekend was the perfect catalyst for buying stocks back up towards record highs... because Putin must have folded, right? Oil prices slipped, with WTI briefly back under $96, which lifted Trannies 1.75% on the day (best performer) but the Nasdaq's break of cycle highs (to March 2000 highs) is the big news for bubble-watchers (though it's different this time remember). VIX broke back below 13 to almost a 4-week low close. Treasuries were weak all day especially after Europe closed with the long-end underperforming (30Y +6.5bps) - 3rd worst day of yeasr for 30Y - with yields rising back to Russian convoy "destroyed" headline levels. Gold dropped back under $1300 as silver rallied 0.5%. S&P futures volumes were 40% below average as AAPL flash-crashes but has almost round-tripped to 2012 highs.
Look away...
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Stocks soared on strong fun-durr-mentals...
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Stocks have recovered all Russian Convoy headline losses... and pushed on to new cycle highs...
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On the day, Trannies were best... Russell 2000 is almost back to unch for 2014.
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Lots of excitement about NFLX's move today but some context suggests the it was all a huge squeze at the open today (again)
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The stock-bond divergence remains but bonds backfilled the Russian Convoy headlines from Friday...
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As the Treasury complex saw yields higher and steeper... accelerating higher in yields after Europe closed...
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FX markets saw urgent USD needs at the US open... but aside from that - flat...
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Gold dropped back under $1300 as silver rallied...
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Charts: Bloomberg
Bonus Chart: AAPL flash-crashed today but managed to get back to almost $100 (100.72 from 9.21.12 is all time highs).
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Bonus Bonus Chart: The Dow perfectly bounced 61.8% of the drop from July...
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