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Equity Bulls Thank Putin For Saving The World As Oil Hits 15-Month Highs

Monday, October 10, 2016 14:46
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(Before It's News)

The last few weeks in stocks…

Oil hit a 15 month high on the heels of Putin’s promises…

Which ramped stocks on a quiet day with bonds closed…

But bond-stock correlations remain high…

The US equity markets are coiling for something big, with the S&P unable to break above its 50DMA and wedge-ing ever tighter…

For context..

Notice S&P Futs ran the stops above Friday’s payrolls spike before fading back…

Stocks gapped open – on the Putin-driven oil spike – and then faded for the rest of the day (with the squeeze in Small Caps leading the way)…

“Most Shorted” stocks were ripped higher at the open…

Post payrolls, stocks and gold are up and bonds down…

VIX was pressed lower from the open…

Twitter tanked… until another rumor struck and smacked CRM lower…

While the bond market was closed for Columbus Day, TSY Futures signal 4-6bps increase in yields…

The USD Index extended gains led by cable and yen weakness…

Despite USD strength, commodities all gained (led by Crude)…

Charts: Bloomberg


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