The Dow Streak May Be Finally Over, But In February Everything Was Up
Just because...
The Record Winning Streak Is Over...
They desperately tried to ramp it but failed
NOTE: Today was the worst day for Small Caps since October
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Just Buy The Dip? FBN Says Don't Overthink Stocks
For nine straight days, the buy-the-f##king-dip crowd has been ubiquitous. Day after day the 'checkmark' pattern has confirmed what JPMorgan detailed about retail ETF-flow-driven buying panics into the end of day liquidity.
Putting It All Together...
Oil Spikes On OPEC/White House Headlines
A double-whammy of bullish news hit WTI crude futures shortly after 1300ET today sending prices soaring. First, The White House denied earlier rumors on changes to the ethanol mandate; and then Reuters confirmed OPEC production cut compliance steady at 94%.
Trump Proposes Cutting State Department Budget By 37%
One month ago, a media frenzy broke out after the WaPo reported of mass voluntary resignations at the State Department, to protest the arrival of Rex Tillerson. Shortly after, it was revealed that not only was it not a "mass resignation" (there were only four high level resignation) but it was all procedural, meant to streamline the transition from one administration to the next.