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As the anticipated splits of AAPL and TSLA loom, both stocks hit new record highs today (before dumping and pumping.,, and dumping)…

AAPL hit a new record high at $515 today…

TSLA hit a new record high at $2129 today (but ended red ahead of its 4-for-1 split tonight)…

All of which was echoed in the major indices (after their overnight exuberance on COVID treatments faded at the open) which were extremely noisy intraday… Nasdaq lagged but The Dow led…

Energy stocks outperformed today.

“I love the smell of stock splits in the morning”…

But this is what many are starting to get concerned about. Breadth is ugly…

Source: Bloomberg

And the correlation between breadth and the market has collapsed…

Source: Bloomberg

Growth and Value stocks were both bid at the open but growth was sold all day from there…

Source: Bloomberg

Major shift in Value and Momentum today with the latter getting spanked…

Source: Bloomberg

Treasury yields traded in a very narrow range today but ended marginally higher…

Source: Bloomberg

Source: Bloomberg

Source: Bloomberg

The Dollar ended higher on the day, whipsawed once again today around the European close…

Source: Bloomberg

Cryptos managed modest gains from Friday’s close…

Source: Bloomberg

Gold and Silver surged in early trading before being clubbed like a baby seal (copper and crude managed very modest gains)…

Source: Bloomberg

The gold monkeyhammering began right at the London Fix, back below $1950…

Silver also slammed back below $27…

Given the potential impact of the double-whammy of storms looming over Gulf oil production, WTI ended only marginally higher…

And finally, if you thought AAPL was having a good year, Lumber is killing it…

Source: Bloomberg

And gold appears to be shrugging off the renewed pressure lower (a positive for gold) in real yields…

Source: Bloomberg

Time’s Up?

Source: Bloomberg