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Why Stocks Are Ramping

Well, it's not the economy stupid: Since USDJPY lost its overnight "the BOJ will do more QE on October 30" momo-mojoo, the levered correlation algso switched to the other asset that was going up: crude oil. And that's the only, and ery simple, reason why your financial markets are being levitated this morning: S&P correlation algos: just tracking whatever is going up, tick for tick.

 

Charts: Bloomberg

 

Let's just hope that crude oil doesn't roll over: DOE data looms!