If NKorea doesn’t launch a rocket tonight, stocks may sell off tomorrow
— zerohedge (@zerohedge) August 29, 2017
Blink and you missed it…
The message from the plunge/panic protection team is clear…
Video length: 00:01:45
For a few brief hours overnight – until the bell rang at 09:30ET on the NYSE – investors were anxious about North Korea’s most provocative yet missile launch, the terrible flooding disaster in Texas, and lest we forget, the looming debt ceiling debacle. But all of that was instantly forgotten as the machines took control and lifted stocks higher practically all day on a sea of USD/JPY-ignited momentum.
200 Point ramp in The Dow from overnight lows, but Nasdaq’s 90 point explosion is ridonculous!
Spot The Odd One Out…
Trannies were best on the day, followed by Nasdaq…
FANG Stocks soared over 2.1% off the opening lows…
S&P algos were utterly desperate to get it to close back above its 50DMA…but failed.
All thanks to a triple-pump-short-squeeze…
Treasury yields ended the day lower but well off the lows of the day…
10Y Yields touched 2.08% intraday – the lowest level since the election – before bouncing back to 2.14%., just above June’s 2017 low close…
The Dollar Index – like everything else – U-turned today at the US open – magically – elevating off lowest levels since 2014…
JPY and EUR were the weakest as the dollar soared back to life…
Just look at USD/JPY!!
And it appears Kuroda’s magical hand was at play as JPY-carry pulled stocks all day…
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