We suspect more than a few traders will need this tonight...
First things first, we have this...
Chinese stocks (trading in US) rose 6.5% today - the biggest day since May 2010:
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And this -Today saw an epic squeeze of shorts - "most shorted" surged 5% off the opening lows which is the largest swing we could find on record
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And finally this: Today was the biggest intraday reversal higher in The Dow since 2011
[5]
Thanks to this...
spoofer in eMini using a order size of 584 $ES_F [6] $SPY [7]
— Eric Scott Hunsader (@nanexllc) October 2, 2015 [8]
With cash indices all ramped into green for the day:
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But there was only one thing driving US equities today... USDJPY, which got the momo going:
[10]
So 120 will be used to launch the 3:30pm ramp
— zerohedge (@zerohedge) October 2, 2015 [11]
SPX would already be above 2000 if payrolls were negative
— zerohedge (@zerohedge) October 2, 2015 [12]
And a collapse in VIX finished it off:
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And US equities (except Small Caps) were ramped all the way into the green for the week, even Trannies
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But credit was not buying it at the end:
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Away from the silliness in stocks, everything else was 'silly' too:
Treasuries soared at the payrolls print with yields collapsing and flattening across the curve... before Europe closed and the Treasury selling was unleashed...
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But remained lower on the week:
[17]
The USD was crushed lower after payrolls but bid back to the moon alice after Europe closed:
[18]
Commodities were very mixed on the week but industrials soared later in the day after precious metals exploded on payrolls data:
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But Silver (up 6%) was the big winner from Payrolls:
[20]
And here is crude on the week... testing and failing at the week's close...ramping today onthe rig count dcline after tumbling after payrolls
[21]
The bottom line - The Pure-Play QE Trade is back on... but be careful what you wish for because of reflexivity...
Rate Hike Odds vs. What Determines Rate Hike Odds pic.twitter.com/qjOsJoJMx3 [22]
— Not Jim Cramer (@Not_Jim_Cramer) October 2, 2015 [23]
Charts: Bloomberg