Summing up today (and every day) on the AAPL infotainment channel, we thought the following brief clip would clarify our perspective...
Before we start, something just does not add up here... Stocks (admittedly starting to catch down) have decoupled from relative volume pressures...
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h/t @Not_Jim_Cramer
And Stocks have broken the uptrend heading back towards fundamentals...
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but still CNBC claims "you have nothing to worry about in the equity markets, credit is the bubble"
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* * *
Having got that off our chests...
Trannies were suffering more than the rest until late in the day panic buying lifted them up to Small Caps... S&P managed a tiny gain...
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Futures markets show the V-Shaped recovery from early Europe-driven losses... (this is post Payrolls)
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Since Friday's close, Trannies are ugly but notably the higher beta stock indices are not generasting the kind of momo oomph one would expect...
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Notably, the S&P rallied all the way back up to its 100DMA then sold off again - this is the first consecutive close below the 100DMA since October's Bullard bounce...
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AAPL's ramp was all about stop runs from yesterday's WWDC presentation...(AAPL bounced perfectly off its 100DMA at 125.37 and tested up to its 50DMA at 128.06 also)
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The Dollar had a modestly volatile day but ended unch...
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Treasury yields rose notably into the European close then rallied modestly into the US close...
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Gold and Copper rose gently, silver was flat, but crude just did its thing...
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Another day in the quiet world of crude oil... MidEast re-turmoiled - Saudi airstrikes in Yemen (and some claim that China will uptick its imports... because it just plunged them?)...
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Charts: Bloomberg
Bonus Chart: Target was buyback spoofed...
1. Issue press release about massive buyback
2. Watch stock.
3. If stock does not surge, retract press release
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