Friday, September 30, 2016

2008 Deja Vu: Short Covering Ahead of No Bid Market

Who will buy Deutsche Bank next week, Angela Merkel?

ZH: Sept. 30, 2016:

Shorts are covering on news of a pending Deutsche Bank settlement with the DOJ. Because bad news is good news once again...

DB is up 14% on hourly volume that is 1700% the 90 day average...

The stock is back to where it was last Friday. Today's half day volume already equals yesterday's full day mega-volume:

Oil short-covering due to OPEC circle jerk:

Small cap short-covering

S&P / R2K ratio:


Nasdaq 100 New highs

S&P % of stocks above 50 dma

Prechter needs to show up for work one of these days...