The lack of World War 3 this weekend was the perfect catalyst for buying stocks back up towards record highs… because Putin must have folded, right? Oil prices slipped, with WTI briefly back under $96, which lifted Trannies 1.75% on the day (best performer) but the Nasdaq's break of cycle highs (to March 2000 highs) is the big news for bubble-watchers (though it's different this time remember). VIX broke back below 13 to almost a 4-week low close. Treasuries were weak all day especially after Europe closed with the long-end underperforming (30Y +6.5bps) – 3rd worst day of yeasr for 30Y – with yields rising back to Russian convoy "destroyed" headline levels. Gold dropped back under $1300 as silver rallied 0.5%. S&P futures volumes were 40% below average as AAPL flash-crashes but has almost round-tripped to 2012 highs.
Look away…
Stocks soared on strong fun-durr-mentals…
Stocks have recovered all Russian Convoy headline losses… and pushed on to new cycle highs…
On the day, Trannies were best… Russell 2000 is almost back to unch for 2014.
Lots of excitement about NFLX's move today but some context suggests the it was all a huge squeze at the open today (again)
The stock-bond divergence remains but bonds backfilled the Russian Convoy headlines from Friday…
As the Treasury complex saw yields higher and steeper… accelerating higher in yields after Europe closed…
FX markets saw urgent USD needs at the US open… but aside from that – flat…
Gold dropped back under $1300 as silver rallied…
Charts: Bloomberg
Bonus Chart: AAPL flash-crashed today but managed to get back to almost $100 (100.72 from 9.21.12 is all time highs).
Bonus Bonus Chart: The Dow perfectly bounced 61.8% of the drop from July…
via Zero Hedge http://ift.tt/1BuOkbb Tyler Durden