Everything's Fixed - Russian FX Halt Prompts Buying-Panic In Stocks
Having once again broken its 100DMA, the S&P (and the rest of the US equity complex), the news that various platforms have halted FX trading in the Ruble (though they won't enact capital controls) and a modest bounce in oil prices seems to have sparked a EURJPY and VIX-driven v-shaped buying-panic very-visible-hand ramp in stocks into the European close... because nothing says dump VIX protection and BTFD in stocks with both hands and feet like totally disastrous US macro data and a global financial system on the verge of collapse.
The Ruble was halted..
And that sparked a Christmas Miracle...
Which sent everything ripping higher
Thanks to EURJPY
A 50 point swing in S&P futures and 400 pint swing in The Dow...
Because oil prices dead-cat-bounce to $57...
Now we see if the European close prompts another trend reversal...
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