Exactly. How convenient that the wording of the fed minutes leads people to believe that more qe is coming, on a day when things are looking negative...
I sincerely doubt it, unless the market falls into a big correction. Why actually do QE, when you can just *say* you're thinking seriously about it and spur the market?
Its time you stop questioning how and why things are they way they are. You're just wasting your own time.
Bit vague for me. operation twist has been running for some time but the market does have its undulations.
As for Tones... after being trapped in a chatroom with him for 6 months I have formed this view..
(Just messing Tones )
Historically it mostly happens in the summer, and we are at the end of it and are coming towards the most productive months in the business cycle which will have a positive impact in the economy and that is why we wouldn't need another addition of qe for the market to go higher til end of the year. When the market is stable and there are no black swan events the market will move based on seasonality. However the most important catalyst from the fed is the low interest rate til 2014, because that is what affects all forms of investments. This is the fundamental explanation. Remember, even though the technicals appear to be overbought it can stay over bought. Also technicals are a reflection of the fundamentals after the fact. If the fundamentals are screaming for a higher market the technicals will follow. I'm just stating the obvious which is long term the market should move higher and re-test the all time highs,and money is to be made by following the trend. In the near term there is no catalyst for a correction, but a pullback is possible and you should be ready to buy it. Just my .02 cents.
ES 15 min nice bull flag. Hold 1410 on closing basis... .
DX coming up on what is IMO important support in 81.30s. Breaking that and who knows to where dollar will leg down.
Dave I am with ya on the bonds... screwing with reason. That is one heck of a serious move up. For a while those big bars in the low 147s looked like capitulation, but it has steadied in the high 147s, so I just google "WTF" at this point.
the flag pattern on /es could be a move to the 1424 high again for london's session, especially when they open up to see the euro up nicely. Looking pretty bullish for tomorrow i must say
I love that movie
