Dow 13,000 Regained On Lightest Volume Day Of The Year

(Before It's News)

from Zero Hedge

Hope for a Greek deal (which solves what exactly?) and a better than expected German IFO are the excuses for today’s circa 1% spurt in stocks capping a 5-percent-plus jump off Friday’s over-short lows. The best 5-day run in four months for the S&P 500 occurred with the lowest average weekly volume of the year – and as we noted earlier, amid one of the biggest short-squeezes we have seen. Correlations across asset classes rose significantly but it seemed EURUSD (and Gold) was as responsible as anything for today’s magical carpet ride – especially the little dose of magic into the close. Treasuries trod water – completely ignoring equity’s excitement. Silver and Gold popped notably (playing catch up to USD and stocks), as did Oil, with the USD sliding (-1.25%) non-stop on EUR strength (+1.85% on the week!). Have no fear, retirement is back on – Dow 13,000 is back with us… (but it appears, for now, the squeeze-ability is over)

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