{"id":1476553,"date":"2024-07-10T20:00:00","date_gmt":"2024-07-11T00:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1476553"},"modified":"2024-07-10T20:00:00","modified_gmt":"2024-07-11T00:00:00","slug":"stocks-panic-bid-ahead-of-cpi-as-bidens-nomination-odds-re-plunge","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/stocks-panic-bid-ahead-of-cpi-as-bidens-nomination-odds-re-plunge\/1476553\/","title":{"rendered":"Stocks Panic-Bid Ahead Of CPI As Biden’s Nomination Odds Re-Plunge"},"content":{"rendered":"

Stocks Panic-Bid Ahead Of CPI As Biden’s Nomination Odds Re-Plunge<\/span><\/p>\n

\n

Another day, another 0-DTE dominated melt-up…<\/strong><\/p>\n

<\/a><\/p>\n

Source: SpotGamma<\/em><\/a><\/p>\n

NVDA and TSLA dominating the options trading… and all 0-DTE!<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Which levitated MAG7 stocks for the 7th straight day (10 of last 11 days)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

And that is all that is needed to lift the Nasdaq and S&P (and everything else by association). Late in the day, everything just went vertical… because!!<\/p>\n

<\/a><\/p>\n

The S&P 500 is now almost 15% above its 200DMA – quite a stretch…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…ahead of tomorrow’s CPI print event risk, realized vol is near record lows (10d with a 5 handle) and very short-dated vol (across the CPI print) is near 16<\/strong>…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Rate-cut expectations continue to rise as Powell said nothing hawkish… which is therefore dovish?<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Treasury yields are down very modestly on the day 1-2bps<\/strong> with a very modest long-end outperformance…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The dollar index slipped back to Monday’s lows…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Gold rallied early on but gave some back in the US session…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Oil prices surged back above $82.50 (WTI) after the official inventory data…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Bitcoin rallied back above its 200DMA 58,818 but was slammed back down again…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Finally, President Biden’s odds of being the Democratic Party nominee plunged again today<\/strong>…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…do traders know something about tomorrow’s solo press conference gauntlet?<\/p>\n

Come On England!!!! See you Tuesday, BD.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 07\/10\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/mega-cap-tech-melt-continues-bidens-nomination-odds-plunge<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks Panic-Bid Ahead Of CPI As Biden’s Nomination Odds Re-Plunge Another day, another 0-DTE dominated melt-up… Source: SpotGamma NVDA and TSLA dominating the options trading……<\/p>\n","protected":false},"author":0,"featured_media":1476554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1476553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1476553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1476553"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1476553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1476554"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1476553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1476553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1476553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}