Just to confirm reality for a second...
Yesterday: Yellen sees global turmoil if no Greece deal.
Today: Greece deal falls apart, ECB hints at bank runs; -> stocks hit record
Confused? Don't be... Only one clip seems appropriate for a day like this...
As long as you ignore Greek contagion, economic downgrades, weak earnings, and that general sense that none of this makes any sense...
European negotiations (Warning NSFW)
FOR FUCK SAKE EDDIE, ITS ONLY ABOUT 20 KILO! ???????????? #GymWankers [7] pic.twitter.com/yjVAXgQ95P [8]
— GYM WANKERS (@GymWankers_) June 18, 2015 [9]
Before we start, there was only one thing that mattered today... Squeeze the shorts again...
Biggest 2-day short squeeze in 5 months...
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Squeeze all week...
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This resulted in the biggest opening ramp since late 2011!
That was the strongest 1st minute rally (9:30-9:31) in eMini since late 2011 $ES_F [12] $SPY [13]
— Eric Scott Hunsader (@nanexllc) June 18, 2015 [14]
Post-FOMC, futures show the craziness...
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Cash indices are soaring...
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Despite all the headlines and denials and disaster...
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Greek Stocks not happy...
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And note that US stocks did nothing post EU close....
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Nasdaq and Russell 2000 hit all-time highs intraday... (Nasdaq previous intrday high in 2000 - 5132.32)
- *RUSSELL 2000 INDEX CLIMBS 1.3% TO END AT RECORD
- *NASDAQ COMPOSITE RISES 1.3% TO CLOSE AT ALL-TIME HIGH
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On the week. even Trannies are in the green...
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Post-FOMC, Utes and Healthcare (Biotech) are leading and Energy lagging and Financials are hardly exuberant...
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Treasury yields spiked higher wit a notable steepening (30Y +10bps off intraday lows today, 2Y unchanged) but with various dire headlines crossing into the close, bonds were bid...
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Post-FOMC, prices are up for bonds...
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The USDollar dumped and pumped as headlines hit and were rapidly denied
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a look at EURUSD tells you all you need to know about liquidity and Grexit being contained...
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Gold was well bid (its best post-FOMC day performance in a year)
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Gold and Crude love the post-FOMC environment...
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To summarize, here are today's catalysts:
- market up on Greece but Greece is flat
- market up on Europe but Europe is down
- market up on Japan but Japan tanked
- market up on China but China dumped
- market up on lower interest rates but rates are higher
- market up on ORCL earnings but ORCL is getting slammed
TOMORROW IS QUAD WITCH! That is all!
Charts: Bloomberg
Bonus Chart: Nasdaq bitches!
Before this year the Nasdaq closed >5k twice. Has done it 25 times in a row currently. $COMPQ [29] pic.twitter.com/E6h7Ohbb4e [30]
— Ryan Detrick, CMT (@RyanDetrick) June 18, 2015 [31]
Bonus Bonus Chart: Biotechs bitches-er!
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Bonus Bonus Bonus Chart: UnFITBIT...
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