It's one of those days...
The last 4 days have seen the largest "short squeeze" in 2 months...
[3]
But the broad market went nowhere...
[4]
As Small Caps (heavily shorted) surged...
[5]
On the smallest range day of 2015...
[6]
The market was glued to VWAP most of the day...
[7]
On the week - absent the Russia-Turkey dump'n'pump the market has traded in a very narrow, well managed range...
[8]
Treasury yields drifted very modestly lower today...in an extremely narrow range...
[9]
Credit remains decoupled...
[10]
But decoupled from stocks...
[11]
Draghi jawboning oin ECB's 2-tiered QE sparked EUR weakness, USD strength early on but that faded fast as Europe closed...
[12]
Commodities all followed the same (inverse) pattern to The USD today with Crude's beta the greatest...
[13]
Oil and stocks continue to pay nice and decouple...
[14]
Crude gamma growing...
[15]
Charts: Bloomberg