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Janet Yellen Saves The Day: Stocks Soar After Fed Chairman Tells Democrats To BTFD

Because everyone knows you BTFD when Janet Yellen speaks (and Sell The F**king Shit out of precious metals in the middle of surging currency volatility and monetray policy chaos...)

 

Thank The Market Gods for Janet Yellen... Stocks were rescued back above their 100DMAs to prove everything is fine...

 

Which dragged all stock indices back into the green post-QE3

 

The big news today was Gold & Silver crushed... Crude new cycle lows... and Swiss Franc slapped hard and put away wet... (oh and stocks bounced)

Stocks started to squeeze after Europe closed (as usual) and then Janet Yellen struck with hints to Senate Democrats that its tiem to BTFD!! Ramped back to unch from yesterday's FOMC but could not hold it!!

 

Some context for the exuberance today... As Small Caps creep green for the week

 

Stocks decoupled from rates...

 

Treasury yields remain lower on the week...

 

The USDollar fell modestly today led by EUR strength but Swissy was smashed lower again...

 

Commodities are all lower on the week with silver clubbed today leading the way...

 

Yet again Crude made fresh cycle lows... (before bouncing back once again)

 

And Energy stocks tumbled back to that reality...

 

 

Silver and Gold really accelerated lower after Crude broke $44 (around the European Close)

 

Gold tumbled despite the resurgence in Currency vol...

 

 

Charts: Bloomberg