Only one clip seemed appropriate given the last two days...
This seemed to sum things up nicely...
S&P500 Futures; NO STOPS GO UNTOUCHED IN THE ELECTRONIC ARCADE - http://t.co/8DmaJqUWbe [5] pic.twitter.com/Icwt87hliL [6]
— Mr TopStep (@MrTopStep) May 7, 2015 [7]
But this morning's epic short squeeze provided the momentum for the rest of the move...
[8]
Gartman [9] and Yellen [10] were celebrating briefly (very briefly) this morning...then not so much
[11]
As we said this morning, [12] "Will Yellen Capital Management LP be right, or will Gartman's uncanny ability to be always wrong at just the right time, provide the bounce the market so desperately needs?" It appears so - for now.
Cash indices managed briefly to get green *(Russell and Trannies only) for the week, but leaked lower into the close...
[13]
It appears there was some protection-buying ahead of tomorrow's "digital" payrolls number (VIX notably underperformed)
[14]
As did HY Credit...
[15]
Then there's YELP...
[16]
SHAK shook...
[17]
Bonds were the big movers today with Bunds & Treasuries massively roundtripping... (Bunds -18bps from overnight highs... and USTs -15bps!!)
[18]
This is the best day for 30Y TSYs since Jan 28th
On the week, Treasuries remain higher in yields but major bull flattening today (as perhaps AAPL rate locks were lifted)...
[19]
The Dollar rose notably, driven by buying during the US Session...
[20]
Commodities all weakened as the dollar strengthened...
[21]
As Crude crashed back to one-week lows...(despite tension rising in ME)
[22]
And Shale Stocks were slammed...
[23]
Charts: Bloomberg
Bonus Chart: Bears still absent...
shocker -bears still 13.9% pic.twitter.com/PR4mAEHjnb [24]
— Not Jim Cramer (@Not_Jim_Cramer) May 6, 2015 [25]