Silver Soars, Bitcoin Roars, Stocks Snore As COVID-Relief Rancor Continues

A very mixed week into quad witch with Small Caps soaring and S&P and Dow snoring until the last few minutes of the week…

Small Caps are at their strongest relative to mega-tech Nasdaq since March…

Source: Bloomberg

And this broad stock surge has occurred as US macro data has consistently disappointed…

Source: Bloomberg

All of which makes you wonder…

Amid Quad Witch, S&P briefly came unstuck from its 3700 pin as TSLA’s entry into the index loomed. Absolute chaos ruled into the last few minutes of the day…

Energy stocks were the week’s biggest laggards, despite a strong week in crude. Tech outperformed…

Source: Bloomberg

Treasury yields were extremely choppy on the week but ended higher and steeper…

Source: Bloomberg

10Y Yield pushed back towards 95bps… a key resistance level…

Source: Bloomberg

The dollar extended its weakness (down 4 of the last 5 weeks)…

Source: Bloomberg

Testing down to critical support…

Source: Bloomberg

As the dollar dives, yuan surges up near critical levels…

Source: Bloomberg

A big week for cryptos overall…

Source: Bloomberg

Bitcoin soared to record highs with its best week since June 2019…

Source: Bloomberg

While gold was up on the week…

Source: Bloomberg

Bitcoin dominated it, pushing up to over 12x…

Source: Bloomberg

Silver soared above its 50- and 100-DMA this week, back above $26, its highest in 3 months…

Source: Bloomberg

This was Silver’s 2nd best week in 4 months, crude rallied strongly again and copper and gold managed gains…

Source: Bloomberg

Gold gained but not as much as silver, unable to break $1900…

Source: Bloomberg

Sending Gold/Silver to its lowest since September…

Source: Bloomberg

WTI topped $49 today, its highest since Feb…

Source: Bloomberg

Finally, so much for that brief trip away from total and utter complacency as the Put-Call ratio is back at 14 year lows…

Source: Bloomberg