Artist's imprerssion of Nasdaq trader's reaction to the greek deal this week (forward to 45 seconds in...and feel the anticipation)
Stock went up... some more than others... as Futures show gapped up on the Greek vote - kept squeezing into the US open and then diverged with Nasdaq melting up...
[11]
Cash indices all gapped higher at the open but from that squeeze - there was major divergence (Dow Industrials and Trannies actually lower)
[12]
On the week, the Nasdaq is now up over 3.25%...
[13]
In summary...
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The last few days saw the biggest short-squeeze in 5 months...
[14]
Which is helping The Nasdaq to its biggest 6-day run since October's Bullard ramp...
[15]
And then there's this massively free-cash-flow negative idiot-maker...
[16]
One more good reason why stocks just keep surging... JPY carry is back on now that Grexit event risk has been 'removed' from carry traders risks... fun-durr-mentals
[17]
VIXnado...back at an 11 handle!!
[18]
as The backwardation unwinds to the steepest in 2 months...
[19]
Bonds continued their rally with 30Y leading the way...
[20]
As it appears the Moar QE trade is back in full swing...
[21]
FX markets continued to be dominated by a plunge in EUR and JPY...
[22]
And, digging into the details, your daily FX roundup (courtesy of ForexLive) [23]:
We learned a few things [24] from the ECB but nothing earth-shattering. The economic assessment gave a lift to the euro but it was quickly wiped out. The FX market reacted little to the Greek ELA but European stocks rallied.
After the press conference a second wave of euro buying hit and pulled it from a session low of 1.0856 to 1.0927 at the options cut. From there, the sellers returned in a broad USD mini-rally and it slipped to 1.0875 at the end of the
week(hold your horses there buddy ... its Friday here in the world's greatest country but not the weekend yet - Eamonn) day.
USD/JPY hit a session high of 124.18 very early in US trading but slipped into the options cut, falling to 123.89. Steady buying from there took it back to 124.13. Yellen had very little effect, if any.
Cable hit a bump today, falling to 1.5560 from 1.5615 but the dip buyers were ready and it climbed all the way back. A second dip also found support and the pair finishes only modestly lower on the day at 1.5612.
USD/CAD finishes at the highs of the day at 1.2966. Dips toward 1.2900 have found good support since the BOC cut. A touch off 1.2906 at the options cut set the stage for a steady rally to the highs.
The Aussie was generally perky as it clawed back some of yesterday's losses. The high of 0.7437 peaked just above the 61.8% retracement of the slump on Wednesday but some sellers appeared late and drove it to 0.7401. There were some massive options running off in AUD and that was the buzz. The lows in USD right across the board today were at the cut.
Commodities were mixed with copper limping higher as PMs leaked a little more and crude tumbled...
[25]
Crude continues to tumble back to a $50 handle as Iran and default fears mount...
[26]
Charts: Bloomberg
Bonus Chart: VXX hits its 347th Record Low......
This is pretty stunning 347 out of 1625 days that $VXX [27] traded: new all time lows were set pic.twitter.com/KlFrtQPVHi [28]
— Eric Scott Hunsader (@nanexllc) July 16, 2015 [29]