Stocks, Bonds, Gold, & Oil Pop As Dollar & Crypto Drop
Tyler Durden
Wed, 05/20/2020 – 16:01
The mania continues…
Stocks all rallied hard today after yesterday’s brief breather, but still, just look at Small Caps and Trannies today…
Oh and because it was a Fed Minutes day, stocks had to rally!
Another test of the 2950/Fib retrace level with no solid breakout…
S&P could not break its 100DMA…
“Most Shorted” Stocks surge out of the gate again amid yet another squeeze…
Source: Bloomberg
FANG Stocks rallied to new highs… again…
Source: Bloomberg
Bonds were bid…
Source: Bloomberg
Gold was bid…
Silver was bid…
Silver outperformed gold once again…
Source: Bloomberg
Oil soared again…
As The dollar tumbled once again, falling to the low-end of its recent range once again…
Source: Bloomberg
Cryptos were clubbed today…
Source: Bloomberg
And finally, P/Es for tech and the broad market are back at cycle highs…
Source: Bloomberg
If the entire world economy is locked down and 325,700 die from a previously unknown virus but stocks didn’t really budge much… did it ever happen?
Source: Bloomberg
Probably nothing…
Source: Bloomberg