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S&P 500

Without FANG Stocks, the Market Has Gone Nowhere For Three Months

May 27, 2017 - 1:36am
Without FANG Stocks, the Market Has Gone Nowhere For Three Months

For weeks I’ve been noting that stocks are being driven by a market rig.
By way of review, that rig is as follows:
1)   Someone slams the VIX lower.
2)   This forces risk-parity funds to buy stocks, usually the FANGs or large-cap Tech names (Facebook, Apple, Netflix, Google).
3)   FANGs rally, which due to the weighting in the S&P 500, forces the overall market higher.
The last point is key.

Global Rally Fizzles After "OPEC Shock" In "Slow Risk-Off Session"

May 26, 2017 - 8:52pm
Global Rally Fizzles After "OPEC Shock" In "Slow Risk-Off Session"

S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.

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