Volume is around 35% below yesterday's pro-rata but none of that matters. The S&P 500 is at record highs but it is the "most shorted" and most notably the Russell 2000 that is just exploding higher with a massive gap. Up over 3% on the day, smashing to new record highs, this is the best day in over 26 months. This is the biggest rise in stocks since October 2011 (when global central banks came to a co-ordinated rescue). Bear in mind that the Fed already noted small-cap multiples were over-extended (5% below here)… but BTFATH anyway.
Just an incredible surge in the Small Caps…
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Which has ramped the Russell to play year-to-date catch up with the Nasdaq…
And the big winner since we the "most shorted" on 2/21… is the "most shorted"
It's just that kinda market – Thank You Janet
via Zero Hedge http://ift.tt/OXj0yl Tyler Durden