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The Dow Has Never Had A Longer Streak Of Record Closes… Ever

Monday, February 27, 2017 17:04
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Headline: Bitcoin & Blockchain Searches Exceed Trump! Blockchain Stocks Are Next!

Core Durables Goods and Shipments MISS, Pending Home Sales MISS, Dallas Fed ‘Survey’ BEAT

“Never gonna let you down”… 12th Record Dow Close In A Row.

One streak was broken today – after 6 straight days of Dow and Long Bond price rises, bonds dropped as stocks rose today…

But another streak reached a record high The Dow has never had a longer streak of record closes than this in its 100-plus year history…

After Friday’s panic-bid melt-up, The Dow opened lower and VIX was immediately crushed back below 12.00

Small Caps were the big (squeeze) winner today…panic bid into the close as JPM noted more retail flows into ETFs sparks that manic lift.

Another big squeeze at the open…

Financials rallied on the day with BofA erasing Friday’s losses… (but Morgan Stanley still lagging)

Tesla Tumbled on Goldman’s downgrade…

Notably, it seems the Fed Funds futures market (rate hike odds) suddenly decided to catch up to stocks?

On very heavy volume.

Once again VIX was up and Stocks were up…

While bonds sold off on the day, yields remain lower (and the curve flatter) post-Fed Minutes…

Debt ceiling concerns rose…

After Kaplan spoke, the USD Index rallied back into the green – after weakness overnight…

As The USD rallied, so PMs dipped lower, oil ended unch, and copper slipped (but ended marginally green)…

And while the commodity was hit, Gold Miners were clubber like baby seals…

So to summarize – Hard real economic data notably disappointed and the odds of a March rate hike soared on extremely heavy volume in FF Futures, which seemed to be a positive thing for stocks but crushed PMs/Miners (but only nudged bond yields higher) – all very convenient.



Source: http://silveristhenew.com/2017/02/27/the-dow-has-never-had-a-longer-streak-of-record-closes-ever/

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