Tuesday, April 11, 2017

The Status Quo Hinges On OPEC

What could go wrong?

Someone needs to tell Trump that World War III is not "bullish"...



Today's rally compliments of OPEC bullshit:

"It's been working so well until now, that we've decided to extend the cuts"

The key reversal in oil was reversed (and Gold, not shown)

U.S. Oil ETF:

Long-term rates definitively broke the support line, which means the max pain trade is on...

Bond shorts (red) with Ten Year yield:

A big day for short-covering

Equal cap / market cap S&P:

Big banks

Small banks

Big cap tech:

And the other big rally today was in implied volatility:

This is the S&P / VIX ratio: