Global Stocks, Oil Continue Streamrolling Shorts On Last Minute Hopes For G-20 Stimulus Announcement
Whether this week's market surge was catalyzed by two consecutive "technical problems" in the bond market, first the unexpected failure of the Fed's MBS POMO on Wednesday and then the 7 Year Treasury auction's last minute cancellations yesterday, and quite clearly it was...
... is irrelevant as the short squeeze has not only returned with a vengeance...
... but the critical 1,950 resistance and 50 DMA in the S&P500 was taken out...