Black Friday sales were crap (yes including online), and economic data this morning was dismal... and still stocks did not rally!!
Trannies have given up their gains for the month and The S&P is practically unchanged - as the Small Cap squeeze is very evident...
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(November saw "Most Shorted" end up 0.25% - the best gain in 6 months)
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As Stocks fail once again to hold the October payrolls cliff-edge...
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But for November, Crude oil and Gold were the biggest losers, stocks eked out gains as the long-bond dropped modestly and EUR fell 4% against the USD...
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China's afternoon session rescue bid...
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Provided the pre-market ramp in futures for US markets, but the selling began as US opened...
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On the day, The fabled FANGs went red... (just remember Cramer said not to sell)
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And that weighed on all major indices (although Trannies were weak from the start as Crude gave up overnight ramp gains)...Small Caps broke a 5-day winning streak
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The USDollar oscillate in a narrow range around unchanged today (early JPY weakness reverted)...
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Even as the Offshore Yuan surged...
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Treasuries rallied after China closed and accelerated as US opened...
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Credit markets notably weak in November...
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Commodities were mixed today...
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With gold's best day in over a month...
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Crude surged overnight for no good reason whatsoever aidse from algos need to run stops above Friday's shortened close, then dumped it all as US opened...
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Charts: Bloomberg
Bonus Chart: As @NanexLLC explains, 10% of all S&P 500 futures volume since midnight occurred between 15:59:50 and 16:00:10...
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