Dow Tops 22,000 As Dollar Drops To 27-Month Lows
by Tyler Durden
Aug 2, 2017 4:03 PM
It appears the market's attitude today was simple..,
Summarizing today:
Stocks drifted aimlessly for much of the day with Small Caps the notable loser (worst day in a month)...
But of course - The Dow topped 22,000...thansk to 4 VIX stomps...
FANG Stocks sank again today (down almost 6% from last week's highs)...
The listless drift continues for the S&P 500, which hasn't gained 1% or more in a single day for 69 straight days, the longest streak since March 2007
There was a notable difference in the advance/decline line at today's open that continued for the day...
Treasury yields were mixed on the day with the long-end outperforming...
30Y Yield are hovering at 1-week lows...
The dollar index tested new 27-month lows before v-shaped-recovering...
As EUR strength (testing 1.19 intrday highs) and CAD weakness offset each other...
Silver fell back below its 50DMA - after flash smashing last night...
WTI is up 7 of the last 8 days - Despite disappointing inventory data and surging production, the machinese decided that the DOE-driven dip was for buying... (NOTE - the sudden jerk higher in prices was off support at the 100DMA)
by Tyler Durden
Aug 2, 2017 4:03 PM
It appears the market's attitude today was simple..,
Summarizing today:
- Despite the biggest comany in the world blowing out earnings - Stocks ended the day 'unchish', VIX ended the day marginally higher
- Despite weaker than expected jobs data, escalating tensions with Russia, and China and India facing off against each other - Bonds ended the day 'unchish', the Dollar ended the day 'unchish', and Gold was very modestly lower.
- Despite weaker than expected inventory data, OPEC and NOPEC production rising - WTI ended the day notably higher.
Stocks drifted aimlessly for much of the day with Small Caps the notable loser (worst day in a month)...
But of course - The Dow topped 22,000...thansk to 4 VIX stomps...
FANG Stocks sank again today (down almost 6% from last week's highs)...
The listless drift continues for the S&P 500, which hasn't gained 1% or more in a single day for 69 straight days, the longest streak since March 2007
There was a notable difference in the advance/decline line at today's open that continued for the day...
Treasury yields were mixed on the day with the long-end outperforming...
30Y Yield are hovering at 1-week lows...
The dollar index tested new 27-month lows before v-shaped-recovering...
As EUR strength (testing 1.19 intrday highs) and CAD weakness offset each other...
Silver fell back below its 50DMA - after flash smashing last night...
WTI is up 7 of the last 8 days - Despite disappointing inventory data and surging production, the machinese decided that the DOE-driven dip was for buying... (NOTE - the sudden jerk higher in prices was off support at the 100DMA)
