One. Big. Squeeze…
Everything must be awesome…
- Russell 2000 longest win streak since 2003 – new record high
- Nasdaq new record high
- S&P 500 new record high – 2,200 looms
- Dow new record high – 19,000 looms
S&P and Dow are now up over 8% from the limit down lows of the election…
An opening dip was bought and stocks across the board hit new record highs (led by Nasdaq)…
VIX smashed near an 11 handle…
Small Caps are up 12 days in a row – the longest streak since 2003…
Breadth is terrible…
Post-Election, oil and stocks are up, gold and bonds not so much…
US Treasuries continue to underperform the other developed market bonds…
But the long-end outperformed once again today… 30Y yields dropped back below 3.00%
As the US Treasury curve continues to flatten drastically to 6 week lows..
Completely decoupled from bank stocks…
The USD Index declined after 10 straight days higher…
Chaos early in the day around the gold lqiuidity moment sparked some jiggery pokery in GBP and JPY…
Crude soared again on OPEC headlines, copper was green and gold managed a small gain from Friday's close…
via http://ift.tt/2fiWexj Tyler Durden