This is indeed "madness"...

Just 1 word... "Patient" and this idiotic market soars 700 Dow points! (and S&P 90 Up ) - Quad Witching Machines in full retard mode... This is the biggest 2-day swing since Dec 2011.

Up 4-5% in 48 hours...

"Most Shorted" stocks are up 4.75% from yesterday's lows - the biggest squeeze since October 2011.

Since The FOMC...

Dismal Data... Buy Stocks

HY Credit dumping... Buy Stocks

VIX protection bid... Buy Stocks

Crude Carnage... Buy Stocks

JPY Carry unwinds... Buy Stocks

Inflation expectations collapsing... Buy Stocks

You're getting the picture.

The USDollar rallied...

Treasury yields rose quite notably...

And commodities generally flatlined as oil roundtripped...

Finally, Russia "stabilized" overnight following Putin's annual Q&A...

Charts: Bloomberg