As Expected, POMO Sparks Buying Frenzy In US Stocks

Having quietly limped back to retrace the jobs report losses, US equities were beginning to fade back in hurry when we tweeted the market’s desparation for a POMO stick-save… sure enough, 2 minutes later, as POMO started, S&P 500 futures took off in an uninterrrupted 13 point surge higher (with bonds, FX, and gold all continuing their ‘taper-on’ post-payrolls trends ignoring the idiocy in stocks)…



As an FYI – yesterday’s closing VWAP was 1757 for S&P 500 futures and we suspect this is machines desperate to cover their costs on yesterday’s selling… expect resistance..


via Zero Hedge Tyler Durden

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