evening wrap

market vibes

September 19…)  

“If everybody’s doing it. Everybody’s doing it.” Vincent, The Color of Money

All stock indexes went up. All metals went up. Oil went up. Bitcoin and ETH went up. The BCOM traded at its best level since late July (chart below). What is interesting about every asset under the sun getting a bump in its pay packet, is practically all of them were already nicely higher and heavily long going into the Fed’s nerve wracker and everyting still went up…. maybe.

After a frothy three hours of madness on Wednesday and repetitive swings of 70 handles the algos were sated and the markets settled within basis points of where they were at 1:59 PM.

When Asia opened, they went up, traded until 9:30 EDT, then traded horizontally all day and closed about 10 points lower than their opening price. It may have seemed like stock indexes were trading higher today but… they really weren’t.  

NDX futures opened this morning at 19816 and settled at 19812.  

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