Royal Memorial Stadium. Capacity: 100,119
Having attended a few football games there over the years, I can attest to how big and how loud UT’s Royal Memorial Stadium can be, especially if the Aggies or Red Raiders are in town.
As official COVID-19 deaths in the US reach 100,000 today, I think about how that many souls would look if all gathered together at one time. Bryant-Denny in Tuscaloosa holds 101,821. Tiger Stadium in Baton Rouge, 102,321.
The biggest in the country is Michigan Stadium in Ann Arbor with 107, 601. Deaths will reach that level by the end of the week. Still, unless it happens to a family member, friend, or neighbor, I guess it doesn’t seem real to most people – certainly not to these sons and daughters of future COVID-19 patients.
Apparently, news of another pharmaceutical company or two starting clinical trials is all the market needs to remain optimistic that maybe the coronavirus will just vanish, like a miracle. Or, maybe it’s just the algos up to their usual high jinks.
VIX made new cycle lows at 11:36 last night… 
…which just so happened to be the exact moment that S&P 500 futures broke through their 200-day moving average. 
It’s also when WTI futures broke Monday’s highs.
As we’ve been discussing all week, this was destined to happen on a holiday weekend. It was nice of the market algos not to disappoint – especially those seeking a positive headline:
Market Shrugs Off 100,000 Deaths, Soars Through Critical Resistance
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