Well it's the day after Midterms so stocks had to rally, right? It appears no one told Nasdaq stocks to toe the line. The Dow led the day (led by Visa again, 40 of 85pts); Trannies appeared to enjoy higher oil prices today and while the hunt for a catalyst remains absent, 1315ET marked a schizophrenic divergence in stock-buying exuberance that Nasdaq never recovered from. A very choppy day in stocks - macro data, Saudi headlines, McConnell and Obama. Gold (worst day in 4 months to Apr 2010) and silver (worst day in 13 months to Feb 2010) were crushed overnight (amid zero liquidity). Oil prices surged on Saudi ISIS fears (best day in 2 months) breaking above $79. Treasury yields rose modestly (but rallied into the close). The USDollar rallied in the EU session then flatlined in the US session. HY credit was not buying the equity exuberance as HGY closed red.

It is kind of ironic that the day after the country shows its distaste for the inequality in this country (i.e. the 'positive' data not trickling down to the average joe) - US equities hit an all-time high and close near highs.

It appears algos were utterly confused today and stocks drifted higher on JPY and oil and nothing else.

Late-day buying panic dragged Small caps into the green but Nasdaq stayed red... just

Not exactly a great bullish day - Utilities surge and Energy stocks jump on Oil which jumped on terrorism concerns

Quite a divergence in commodity land as bullion was battered (gold worst in 4 months, silver worst in 13 months) and crude surged on Saudi pipeline explosion concerns...

and quite a divergence in credit and equities

and IG credit too

Treasuries remain mixed on the week with modest rise in yields today - once again with volatility between 8ET and EU close

The Dollar rallied in the European session but stopped around 8ET (when bonds twanged)

and the Dollar strength sent gold and silver lower... and despite news of The Mint sold out of physical silver coins, silver tumbled into the close