The machines used every tick of USDJPY and VIX today to ensure The Dow ended green...
After yesterday's dump and pump, The Dow and Nasdaq clung to April Gains... as Small Caps were slammed then the BTFDers arrived and it went exponential...
With an otherwise stellar Q1 ending with a whimper, traders expected that Monday would bring a return if not the "animal spirits", then at least the Reflation trade. That, however did not happen, for various reasons as profiled earlier by RBC, among which:
Authored by John Rubino via DollarCollapse.com,
For a while there it looked like the US and its main trading partners had finally achieved escape velocity. Growth was up, inflation was poking through the Fed’s 2% target, and most measures of consumer sentiment were bordering on euphoric.
As RBC pointed out earlier today, there were two key drivers (in addition to month end "black box" rebalancing) behind today's volumeless equity rally: the jump in the dollar, which rose on the previously discussed Fed-ECB policy divergence as well as upward revisions to Q4 GDP, and which has put the BBG dolar index on track for its first weekly advance in three ...
Interested in precious metals investing or storage? Contact us HERE
The Market Has Its Head Buried Deep In The Sand
Posted with permission and written by Dave Kranzler (CLICK HERE FOR ORIGINAL)