Thursday: You Only Need One Chart

Folks, this couldn’t be anymore obvious.

Remember what we said this morning? To wit:

Well, we suppose the overarching narrative here for retail investors is pretty goddamn simple: buy the f*cking dip. Every time. Don’t even think about it. Just do it – like a Nike check.

But as usual, there are other things going on behind the scenes. Things like the ECB covertly bailing out the dollar on Wednesday by dropping a “little” hint about the market having “bigly” misinterpreted Draghi’s signaling.

That’s just all there is to it on Thursday.

A little (possibly coordinated) help from i) a Fed that’s rolling out a cautiously hawkish message (again), ii) an ECB that’s suddenly walking back its hawkishness (i.e. leaning dovish – again), iii) some underwhelming inflation data out of Germany, iv) a subsequent widening of UST-Bund spreads, all conspiring to support the dollar, and just like that… f*cking presto… higher stocks as the reflation meme is viable again.

ECB

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