Home Stocks Stocks Erase Payrolls Puke, Bonds Battered, & Crypto Bounces Back

Stocks Erase Payrolls Puke, Bonds Battered, & Crypto Bounces Back

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The weekend was dominated by Fauci playing down his initial alarm panic fearmongering over Omicron and the liquidation flush in crypto.

Re: Fauci…

‘Recovery’ stocks accelerated higher today relative to ‘Stay at Home’ stocks, erasing the post-Omicron losses…

http://www.zerohedge.com/

Source: Bloomberg

And STIRs shifted notably more hawkish with a June 2022 rate-hike now more than fully priced-in…

http://www.zerohedge.com/

Source: Bloomberg

And Re: Crypto…

Prices for the major coins rebounded from their deepest depths on Saturday with Ethereum erasing the entire drop (Litecoin is still down 20% from Friday)…

http://www.zerohedge.com/

Source: Bloomberg

Notably, Bitcoin is back at its average daily closing level for the year…

http://www.zerohedge.com/

Source: Bloomberg

Ethereum is at its strongest relative to Bitcoin since Feb 2018…

http://www.zerohedge.com/

Source: Bloomberg

*  *  *

Aside from the cash opening puke, stocks were bid all day until around 230pms (margin call time) led by Small Caps and The Dow…

http://www.zerohedge.com/

Broadly speaking, stocks erased all the post-payrolls losses (apart from Nasdaq) with The Dow up most overall, but the selling in the last hour left S&P unchanged from pre-payrolls and only The Dow higher….

http://www.zerohedge.com/

A look at the technical levels tells the story as the Nasdaq and Dow both ripped up to their 50DMAs and rolled over…

http://www.zerohedge.com/

“Most Shorted” stocks ripped back to life after 6 days of painful jolts lower…

http://www.zerohedge.com/

Source: Bloomberg

TSLA tumbled at the open (back below $1000) but was bid all day, managing to get back to even briefly…

http://www.zerohedge.com/

Cyclicals and Defensives were bid together today as the broad market squeezed higher. leaving cyclicals unchanged from pre-payrolls and defensives notably higher…

http://www.zerohedge.com/

Source: Bloomberg

VIX tumbled today – back below 30 – but remains notably elevated since Omicron hit…

http://www.zerohedge.com/

Treasury Yields soared today, erasing the move from Friday’s payrolls report before fading back lower again in the last hour…

http://www.zerohedge.com/

Source: Bloomberg

The dollar trod water in a very gentle uptrend today…

http://www.zerohedge.com/

Source: Bloomberg

Gold drifted lower after Friday’s gains…

http://www.zerohedge.com/

WTI surged over 5% today, back above $70, but remains well down from pre-Omicron levels…

http://www.zerohedge.com/

Finally, stock market breadth stinks…

http://www.zerohedge.com/

Source: Bloomberg

And the VIX term structure is in backwardation…

http://www.zerohedge.com/

Source: Bloomberg

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