Crypto & Tech Stocks Soar As ‘Soft’ Data Slumps To 18-Month Lows
‘Hope’ – as measured by the spread between ‘soft’ survey data and ‘hard’ real economic data – has slumped to its lowest since Feb 2020 as today’s Dallas Fed survey’s collapse confirming the recent trend of ‘soft’ survey data puking as the stimmies run dry…
Source: Bloomberg
Or put another way…
But, it appears that big-tech investors “Can handle the truth…” while Small Cap buyers can’t… The Dow ended marginally lower and S&P was weaker into the close but managed gains…
NOTE – once again all the ignition occurred at the cash open.
Small Caps reversed all their J-Hole-driven gains from Friday relative to Nasdaq…
Growth stocks dramatically outperformed Value today…
Source: Bloomberg
Big drop in MRNA today after a series of ugly headlines over contaminants…
And HOOD (and Schwab etc) was monkeyhammered on PayPal brokerage chatter and SEC ‘Payment for Order Flow’ headlines…
VIX was hammered back down to a 15 handle again today…
Bonds were bid (down around 2-3bps across the curve today) alongside big-tech with yields extending their drop from Friday’s J-Hole speech…
Source: Bloomberg
The dollar trod water after getting clubbed like a baby seal on Friday…
Source: Bloomberg
Crypto rallied back today from some weakness with ETH significantly outperforming…
Source: Bloomberg
…breaking out to two-week highs relative to BTC today…
Source: Bloomberg
Gold gave back some of Friday’s gains, but remained above $1800…
Oil traders bought the f**king dip today as WTI managed a v-shaped recovery from overnight losses…
Finally, The Hindenburg Omen remains in play…
Source: Bloomberg
“Valuations” ain’t cheap…
Source: Bloomberg
And the ghost of 1987 is looming…
Source: Bloomberg
Tyler Durden
Mon, 08/30/2021 – 16:00
via ZeroHedge News https://ift.tt/2WHNtIO Tyler Durden