Core Durables Goods and Shipments MISS, Pending Home Sales MISS, Dallas Fed 'Survey' BEAT...

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"Never gonna let you down"... 12th Record Dow Close In A Row.

Video length: 00:03:32

One streak was broken today - after 6 straight days of Dow and Long Bond price rises, bonds dropped as stocks rose today...

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But another streak reached a record high... The Dow has never had a longer streak of record closes than this in its 100-plus year history...

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After Friday's panic-bid melt-up, The Dow opened lower and VIX was immediately crushed back below 12.00

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Small Caps were the big (squeeze) winner today...panic bid into the close as JPM noted more retail flows into ETFs sparks that manic lift.

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Another big squeeze at the open...

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Financials rallied on the day with BofA erasing Friday's losses... (but Morgan Stanley still lagging)

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Tesla Tumbled on Goldman's downgrade...

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Notably, it seems the Fed Funds futures market (rate hike odds) suddenly decided to catch up to stocks?

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On very heavy volume.

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Once again VIX was up and Stocks were up...

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While bonds sold off on the day, yields remain lower (and the curve flatter) post-Fed Minutes...

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Debt ceiling concerns rose...

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After Kaplan spoke, the USD Index rallied back into the green - after weakness overnight...

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As The USD rallied, so PMs dipped lower, oil ended unch, and copper slipped (but ended marginally green)...

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And while the commodity was hit, Gold Miners were clubber like baby seals...

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So to summarize - Hard real economic data notably disappointed and the odds of a March rate hike soared on extremely heavy volume in FF Futures, which seemed to be a positive thing for stocks but crushed PMs/Miners (but only nudged bond yields higher) - all very convenient.