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Dow Tops 22,000 As Dollar Drops To 27-Month Lows

Dow Tops 22,000 As Dollar Drops To 27-Month Lows

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.

Despite the exuberance of record highs in AAPL shares…

 

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…

 

Almost 5% difference between INDU and TRAN in last 5 days and S&P is unch…

Here’s why The Dow is surging…

 

Oh no sorry, here’s why…

 

But ‘Dow Theory’ is not buying it – Trannies are testing their 200-day moving average, massively diverging from Industrials…

 

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)

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