Stocks were on another risk on rally today, with the SP and NDX making new highs again.

After the bell, some of the big story stocks like Peloton and Uber and Square were getting spanked on their earnings and guidance.

Ed Yardeni assures us that stocks are not rising due to any monetary support from the Fed, but from their wonderful earnings growth.

Like I said yesterday— delusional.

Well in fairness there is a lot of that going around these days.

Gold and silver bounced back, along with the Dollar which took back the 94 handle decisively.

Hmmmm.  Now why would these three canaries rise on a risk on day.  

Besides the shock from the Bank of England, the bond market's unreliable boyfriend.

And who could have seen it coming?

Non-Farm Payrolls tomorrow.

Have a pleasant evening.

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