Stocks Soar On Stimulus Hope, Smart Money & The Dollar Puke

Stocks Soar On Stimulus Hope, Smart Money & The Dollar Puke
Tyler Durden
Tue, 12/15/2020 – 16:00

The S&P 500 broke its 4-day losing streak today (phew) as Pelosi invited McConnell, McCarthy, and (Mc)Schumer to chat about COVID Relief and the Omnibus bill. Small Caps dominated but everything was bid, erasing all of yesterday’s losses and more…

Energy stocks reversed hard today after yesterday’s monkeyhammering. Tech continued to rip…

Source: Bloomberg

Another day, another short-squeeze…

Source: Bloomberg

DASH and ABNB continued to dump today…

Just one more waffer-thin trillion-dollar handout…(is the dollar saying “f**k off, I’m stuffed”?)

Meanwhile, the dollar puked (continuing its penny-stock mimicry)…

Source: Bloomberg

…to its lowest since April 2018…

Source: Bloomberg

And as the dollar dumped, Bitcoin pushed up near record highs…

Source: Bloomberg

Bonds were sold today with the long-end yields rising around 2-3bps…

Source: Bloomberg

Oil prices rose back up to last week’s highs today…

Gold also rose on the day as the dollar dived…

Finally, Smart Money ain’t buying it…

Source: Bloomberg

Any of it…and IPO/SPAC indices are rolling over…

Source: Bloomberg

And the last time Smart Money decoupled like this, did not end well for the market…

Source: Bloomberg

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