Mar 11, 2021 AT 07:12PM

Nasdaq +3.7%, SPX +1.4%, Russell +1.9% and Dow +0.1%

MoMo > VaL – Ratio +18%

Solar (TAN) +13%, Clean Energy (ICLN) +8%

ARKK +10.5%, FAANG +7%, Tesla +20% and Apple, Amazon, and Facebook +4%

Gold > $1700 – closed +2%, Silver +3% to $26 and WTI tumbled by 2% to <$64 and Brent at $67

Bitcoin back >$1trl market cap as ccy nears $55k, Ether > $1800 

US indices closed higher across the board led by tech heavy Nasdaq which climbed 3.7%, its best day since November. The index has now erased all of yesterday’s relative losses vs the Dow. The bounced in tech names was initially sparked in Asia after reports of China “National Team” stepped in and bought equities and then post US cash open - mega-cap techs, bonds, bullion all ripped higher. Momentum was heavily bid with the ratio over Value gained by almost 18%. Tesla exploded over 20% to its best day since Mar 2013, ARKK rose by 10%, its best day ever. Sector wise, Tech and Retail outperformed while Oil, banks, and Value sectors lagged. Elsewhere, Bond yields stabilized after US 10yr fell by more than 6bps to 1.53%. Dollar was weaker while cryptos were bid with Bitcoin back >$1trl market cap as ccy nears $55k and Ether >$1800. Oil was down for the second straight day with WTI fell by another 2% while Precious metals were bid with Gold bounced hard and >$1700 and Silver surged near $26.