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I hate being *that* guy who has a macro viewpoint in tape where price is signal and it’s saying a resolute fuck you to macro viewpoints.
So I have a lot of time for this from @SuperMugatu
Yet, there is one price oddity that doesn’t get mentioned much on FinTwit... (1/3) https://twitter.com/supermugatu/status/1258853092919062530">https://twitter.com/supermuga...
So I have a lot of time for this from @SuperMugatu
Yet, there is one price oddity that doesn’t get mentioned much on FinTwit... (1/3) https://twitter.com/supermugatu/status/1258853092919062530">https://twitter.com/supermuga...
That is the negative returns of US equities throughout this rally *exhibited during US hours*.
In fact, take Europe. When you measure SX5E returns during EU hours they *never stopped making lows* and cum returns are lower than March lows.
During these same EU hours... (2/3)
In fact, take Europe. When you measure SX5E returns during EU hours they *never stopped making lows* and cum returns are lower than March lows.
During these same EU hours... (2/3)
..US returns (via S&P futures) are hugely positive. This shows up as “overnight” returns vs Open to Close returns in SPX (highly +ve vs small -ve).
What I think is occurring is a GIGANTIC transfer / re-allocation of Asia and EU real-money savings/equity allocations INTO the US.
What I think is occurring is a GIGANTIC transfer / re-allocation of Asia and EU real-money savings/equity allocations INTO the US.
Gonna add a chart to evidence the claims, shortly.
