Stocks Near Record Highs As Economic Data Dumps To 21-Month Lows

By Tyler Durden

US equity markets are within an algo’s angry inch of record highs – which must mean everything is awesome, right?

There’s just one thing… US Economic Data surprises are at their weakest since July 2017 and are currently at the worst of all the world’s majors…

We’ve seen this before…

And one more thing… earnings expectations aren’t buying the bounce either…

And one more thing – Volume is notably (negatively) diverging from price action in this latest surge for the highs…

And finally, one last thing – Dr.Lumber (Dr.Copper’s much more knowledgable big brother) is not buying it… again!

So what’s lifting stocks? Simple – the central banks…

Because in this fragile world – as an increasing number of non-elites realize the curtain has been pulled back and the level of stocks is all that matters…

* * *

Monday’s weakness in Chinese stocks was quickly swiped away by a morning and afternoon session surge…

European markets also surged, led by Germany’s DAX…

US markets were less exuberant that Europe and China but managed gains again. AAPL’s weakness dragged …read more

Source:: Zero Hedge

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