Dow, S&P Erase All ‘Omicron’ Losses; Dollar Dumps, Gold Jumps
Another day, another buying-panic at the cash open in US equities. The Dow manged to ‘get back to even’ on the week and Nasdaq and Small Caps lead the week up over 2%…
The Dow and S&P are almost back to unchanged from the Omicron ledge…
Which makes sense as Omicron is already over in South Africa…
Source: Bloomberg
Well it is the time be jolly… or whatever…all happening as STIRs are now pricing in a 90% chance of rate-hike by May 2022 (you really think stocks are ready for that?)
Source: Bloomberg
Interestingly, ‘shorts’ were not squeezed today…
Source: Bloomberg
But bonds ain’t buying what stocks are selling….
Source: Bloomberg
Explained at 1:00 (NSFW)…
Amid all the excitement, bonds snoozed, ending the day barely changed…
Source: Bloomberg
The dollar was clubbed like a baby seal back to the post-FOMC lows…
Source: Bloomberg
Bitcoin broke out of its recent pennant pattern, and pulled away from its 200DMA today…
Source: Bloomberg
We have seen this pattern before in bitcoin…
Source: Bloomberg
Gold pushed back above $1800….
And WTI crude is hovering at a key resistance level…
Finally, VIX has erased all the Omicron and Manchin ‘BBB is done’ risk…
Because hey – it’s Christmas time…
Tyler Durden Wed, 12/22/2021 – 16:01
