They went nuts for short-term treasurys.
Reuters today: “Investors snapped up $24 billion of three-year Treasury notes on Tuesday, giving a strong kick-off to the first leg of this week's $62 billion quarterly funding, Treasury data showed.”
Note bottom panel SHY up at the top of the bolinger
DAILY
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
SPY 208.25 - Very key level near here on the SPY.. over it.. we will be testing 18 month overhead supply.. and if we gap up.. I'll say new all time highs in a week
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OPEX Jedi mind tricks. Take a low volume low data environment mix in a little corporate buyback money, unleash some algos and presto the market goes up. How many times have we seen this before. The difference is this time earnings really do stink. This time the big guys are all going negative. Use any metaphor you want but they can only shock things back so many times and when the Icans, Soroes, and Drunkmillers of the world stop putting money in and go short, as they have it is over. Not today, not necessarily tomorrow, but it is over.
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