Shitty data, worse earnings, worst volume, new highs. Among the lowest volume days in NYSE single-stocks, S&P futures trading, and VIX options saw stocks levitate back to overnight highs during the day only to slide lower to around unch by the close. Trannies have managed 11 up days in the last 13 and gained 10.3% – sure why not? S&P 500 hit new all-time highs but ended the day well off its highs. Gold hit 5-week highs but faded back to modest gains. The USD rallied early and faded to unch by the close. Treasuries rallied early on but faded into close +/1bp on the day… The pattern was the same across most assets but a very last minute 4.5 point rampapalooza closed the S&P at all-time highs.
The S&P was resecued from a red close by a 5 poinrt vertical ramp into the close…
Treasuries rallie early on dismal data (moar un-Taper) but faded back to unch into the close…
And it weas all the USD into the close…
Charts: Bloomberg
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/AkxrXHBIk5Q/story01.htm Tyler Durden