Sunday, December 11, 2016

MONDAY 12/12/16; Oil Rallies Over +5%; WTIC Oil Above 54; Natural Gas Mini-Crashes -6%; SSEC (Shanghai Index) -2.5%; Dollar/Yen Currency Pair Above 116; US 10-Year Yield Above 2.50%; 3 and 10-Year Treasury Auctions; SPX (S&P 500) New All-Time High; INDU (Dow Industrials) New All-time Closing and Intraday Highs; PAY

Last week was a huge upside rally in global stocks after the Italian referendum vote. Traders expected, and received, more QE stimulus from the ECB which pumps stock markets higher. The central bankers are the market. In addition, the 

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The five-week market rally is not broad-based. Energy, industrial and financial stocks are the big winners accounting for the bulk of the gains. 40% of the rally in the Dow Industrials after the Trump election is due to GS (bank), UNH (healthcare) and CAT (industrial). Goldman Sachs is the single biggest winner after the Trump victory. The banksters always win.

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