See, Brexit was nothing… just like every establishment despot told us…right?
Just as we sarcastically noted earlier…
time for the post-open ramp
— zerohedge (@zerohedge) July 1, 2016
Following the panic-bid into the close last night, this morning sees every one and their pet rabbit piling into high-beta momo (Trannies and Small Caps ripping)…
In a non-stop, volumeless, VIX-crushing (over 26 to 14 handle in 4 days), short-squeezing rally, US equity markets have managed to erase almost every memory of Brexit and its potentially catastrophic consequences…
11 more Dow points and Brexit is a thing of the past…
And the reason is simple… central banks.
This is the best week for the S&P since October 2014's Bullard Bounce idiocy… when he also mentioned QE4.
We do note that futures are still off their pre-Brexit highs…
So there is another target for the machines to hit.
Finally there's this…
With Gold, Silver, Bonds, and Stocks all soaring, it appears the market is betting on QE4 coming soon… but that won't happen unless stocks crash??!!
via http://ift.tt/295H0sw Tyler Durden