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Thursday, 01/23/2020 7:20:24 PM

Thursday, January 23, 2020 7:20:24 PM

Post# of 9289
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*Day In A Chart

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Day In A Chart




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and Now our feature Chart Presentation >>>>>>>>




Stocks Surge Intraday ‘Despite’ Global Virus-nado & Plunging US Data

Judging by the intraday surge in US equity prices, you’d think that the Coronavirus was cured and everything was awesome…


Virus deaths increase. Virus cases soar in China (23 million quarantined), and Virus cases spread globally (from Singapore to Scotland).



And then there’s Leading Economic Indicators at their weakest since 2009…



So what did the machines in the US do? Well, that’s obvious – you buy the f**king global pandemic dip of course!!

Yes, that is Trannies soaring 2% from the opening lows (not the lows were perfectly at the EU close and then the ramp exploded). Dow ended red…



Nasdaq is back in the green for the week – so an economy-crushing pandemic is a buying opportunity for tech? WTF!!



This comes after some serious ugliness in Chinese markets…



And Europe tumbling…



Dow broke back below 29k early on but the machines were having none of that…




There was a 90-minute period in the middle of the day with no negative TICK…



In the US Defensives continue to lead the week, though cyclicals were bid aggressively today…



In the US Defensives continue to lead the week, though cyclicals were bid aggressively today…



Credit markets were not buying this dip…



And while stocks pushed back towards record highs, bond yields plunged to 3 month lows….



Treasury yields fell for the 3rd day in a row…



With 30Y Yield back at their lowest since early October… This is the biggest 30Y Yield drop to start a year since 2015



2y Yields closed at the lowest since Oct 9th…



The yield curve tumbled to its flattest in 6 weeks…



The Dollar spiked to its highest in a month early on before fading back…



Yuan tumbled even further overnight but rebounded modestly intraday…



Cryptos legged down today, with Bitcoin testing its 100DMA, but remain notably higher on the year…



Commodities were mixed despite the dollar gains with crude and copper falling further – unable to ignore China as easily as stocks – as PMs rose modestly…



WTI tested a $54 handle intraday today…



Finally, Americans are the least pessimistic about the economy since March 2002…



But its starting to look a lot like 2018…


Thanks Harvey Organ Nice Chain!

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Please welcome one of the Kings of market Insights

Gregory Mannarino

POST MARKET WRAP UP


#WOODROW The Fed's Balance Sheet Is Going To DOUBLE.. By Gregory Mannarino




Thank You Greg always really good stuff Man !
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Davos Man - Breathless In a Field of Karma


CQs




Davos Man - Breathless In a Field of Karma

"One of the common failings among honorable people is a failure to appreciate how thoroughly dishonorable some other people can be, and how dangerous it is to trust them."

Thomas Sowell


"A man who lies to himself and listens to his own lie comes to a point where he does not discern any truth either in himself or anywhere around him, and thus falls into disrespect towards himself and others. Not respecting anyone, he ceases to love, and having no love, he gives himself up to passions and coarse pleasures.”

Fyodor Dostoevsky, The Brothers Karamazov


“What shall I say about this generation? John the Baptist did not drink wine, and often went without food, and you called him mad. And I, the Messiah, both eat and drink, and you say that I am a glutton and a drunk, and am friends with the worst sort of sinners. The truth of you will be known by your works."

Matt 11:16-19


Stocks finally managed to rally into the close, led largely by the narrowing advance of big tech.

This is starting to resemble the peak of the tech stock bubble. It is a rally to nowhere.

The Dollar also finished higher.

Gold gave up some of its gains but managed to close in the green. Silver gave up a little.

Both metals are coiling within a range, and may keep doing so into the FOMC and Comex option expiration next week.

Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
Thanks You Jesse !















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Have a Wonderful Evening
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