PPT intervention today as the rest of the world is still in sell-off mode, because who needs price discovery anyway?
https://www.zerohedge.com/news/2019-08-06/gold-gains-china-stability-sparks-stocks-dead-cat-bounce
After Europe closed, the short-squeeze in US stocks began...
and zerohedge puts it pretty well:
And so to summarize:
China fixed the yuan slightly stronger than expected and US equity markets soared rather unbelievably... but Chinese stocks did not, Hong Kong stocks did not, European stocks did not, the dollar rallied, crude crashed, gold gained, bonds were bid even as stocks squeezed higher, and Jim Bullard poured cold water on hopes for ever more rate-cuts. So everything else in the world was saying this is not a reduction in rhetoric, but US mega-tech stocks "know better."
Looks like PPT, right on schedule