We suspect more than a few traders will need this tonight... First things first, we have this... Chinese stocks (trading in US) rose 6.5% today - the biggest day since May 2010: And this -Today saw an epic squeeze of shorts - "most shorted" surged 5% off the opening lows which is the largest swing we could find on record And finally this: Today was the biggest intraday reversal higher in The Dow since 2011 Thanks to this... spoofer in eMini using a order size of 584 https://twitter.com/search?q=%24ES_F&src=ctag!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); https://twitter.com/search?q=%24SPY&src=ctag!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); — Eric Scott Hunsader (@nanexllc) https://twitter.com/nanexllc/status/650033166883901440!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); With cash indices all ramped into green for the day: But there was only one thing driving US equities today... USDJPY, which got the momo going: So 120 will be used to launch the 3:30pm ramp — zerohedge (@zerohedge) https://twitter.com/zerohedge/status/650014094888669184!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); SPX would already be above 2000 if payrolls were negative — zerohedge (@zerohedge) https://twitter.com/zerohedge/status/650027159734648836!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); And a collapse in VIX finished it off: And US equities (except Small Caps) were ramped all the way into the green for the week, even Trannies But credit was not buying it at the end: Away from the silliness in stocks, everything else was 'silly' too: Treasuries soared at the payrolls print with yields collapsing and flattening across the curve... before Europe closed and the Treasury selling was unleashed... But remained lower on the week: The USD was crushed lower after payrolls but bid back to the moon alice after Europe closed: Commodities were very mixed on the week but industrials soared later in the day after precious metals exploded on payrolls data: But Silver (up 6%) was the big winner from Payrolls: And here is crude on the week... testing and failing at the week's close...ramping today onthe rig count dcline after tumbling after payrolls The bottom line - The Pure-Play QE Trade is back on... but be careful what you wish for because of reflexivity... Rate Hike Odds vs. What Determines Rate Hike Odds pic.twitter.com/qjOsJoJMx3 — Not Jim Cramer (@Not_Jim_Cramer) https://twitter.com/Not_Jim_Cramer/status/649937176277331968!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Charts: Bloomberg