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Dollar Dives To 6-Week Lows As Fed Fears Market ‘Partying Like Its 1999’

1999-like parties are breaking out everywhere across financial markets… First things first, US Financials Conditions are partying like its way easier than 1999…   The Philly Semiconductor index is partying like its 1999…   But what happens next? Meltup time?   S&P 500 Valuations are partying like its 1999… The spread between German and US […]

German Government Crisis Sends Stocks Soaring, Gold Down Most In 4 Months

Following Friday's best day in 6 months, gold tumbled most in 4 months today as the German Government crisis sent investors fleeing any source of safe haven!!?? Sell bonds, sell gold, sell protection… Seriously… Before we get to the farce in US equities, let's look at German stocks…   Which is odd because EURUSD actually […]

Global Stock Meltup Sends Nikkei To 25 Year High

The global risk levitation continues, sending Asian stocks just shy of records, to the highest since November 2007 and Japan’s Nikkei topped 22,750 – a level last seen in 1992 – while European shares and US equity futures were mixed, and the dollar rose across the board, gains accelerating through the European session with EURUSD […]

World Stocks Soar To New Record Highs As Oil, Metals Surge Ahead Of The Fed

US equity futures have hit a new records, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday, with the MSCI’s world […]

A Technical History Of Market Melt-Ups

Authored by Vincent Delaurd via INTL-FCStone, Melt-Up, FOMO, and Other Climaxes – A Technical History of Good Times Bottom Line: Many strategists are calling for a year-end melt-up: I believe it already happened There have been 76 melt-ups since 1900: the current one is already the second longest on record Stocks have achieved a Sharpe […]

Critical Threats To 2017’s Bull Market – Part 2: Over-hyped Risks?

With The Donald J. Industrial Average surpassing new record highs every day, questioning this bull market's continued existence remains heresy outside of dark little corners of the internet. However, continuing his series, Bloomberg's macro strategist Mark Cudmore dares to mention a few of the more prescient 'known unknowns' that could hamper the meltup for the […]

Schrodinger’s Market: Goldman Now Has Two Year-End S&P Price Targets

For months, we were wondering how much longer Goldman would ignore the relentless market meltup without revising its year-end S&P500 price target, which at 2,400 was not only among the lowest on Wall Street, but also some 150 points away from twhere the S&P currently is. Furthermore, as of this weekend, Goldman’s 2018 and 2019 […]

Critical Threats To 2017’s Bull Market – Part 1: Macro View

While the idea that anything could go wrong in global stock markets (especially US markets) is simply incomprehensible to most, Bloomberg's macro strategist Mark Cudmore dares to mention a few of the more prescient 'known unknowns' that could hamper the meltup for the rest of the year… Via Bloomberg, The base case for the last […]

“There Were No Calls, That’s Absolutely Crazy”: How The Stock Market Died

Something unexpected happened on the market’s relentless trek to all time highs: the market died. At least that is the impression one gets from walking around Wall Street’s formerly busy trading desks (certainly the formerly biggest trading floor in the world, that of UBS, now hauntingly empty) where these days one can hear a pin […]

One Trader Warns: “Don’t Confuse Risk-Asset-Buying With Calm”

CNBC's Joe Kernen nonchalantly commented this morning that "Dow futures are indicated higher… Just like every other morning," and that just about sums up the current utopia as consumer and business surveys spike irrepressibly in line with a seemingly unstoppable meltup in US equity markets. However, as former fund manager Richard Breslow warns this morning, […]

Bonds, Bitcoin, & Bullion Bid But Dow Bounces Back To Another Record High

Odd..   The S&P (orange) managed to scramble back into the green on the week but Small Caps (dark red) and Nasdaq (green) remain red. Trannies (blue) knee-jerked higher (on airlines) at the open but faded all day… The Dow hit a new record high (thanks to WalMart and Boeing)   VIX was smashed at […]

Gold Pops, S&P Stops, And Bonds Have Best Month Since Brexit

One look at the last few days in stocks and all we can say is…   Gold and The Long Bond were the best performers in August with stocks and the dollar unchanged-ish   Trannies were best among the major indices in August followed by Nasdaq. Small Caps lagged. S&P just managed to close green […]