The last few days have seen credit markets weaken drastically, Treasuries rallying, precious metals bid, and copper prices collapsing… but amid all of that stocks are “staying the course.” Perhaps the following 3 charts of the last few days will explain where that magical bid is coming from…
It seems the last hour of the trading day sees sellers arrive (and protection-seekers) worried about overnight angst in Asia… but out of nowhere at 1540ET, VIX is slammed lower (as traders dump protection like a bad case of the crabs) and that lifts stocks close to (or even above) green…
Perhaps, somewhere, someone wants oil prices lower and Russian stocks lower but wants to show the US equity market as the great bastion of trust and security the world can rely on?
via Zero Hedge http://ift.tt/O3f9yW Tyler Durden