TRENDING
The evil Santa theme I facetiously posted yesterday appears to have been more prescient than I would have cared for. Equities literally turned on a dime and continued to dive lower all day. Suffice it to say that I’m a bit miffed as we may have missed the boat here. In retrospect this was a good spot to grab some shorts but without a bit more context and only half a session after the FOMC announcement jumping into entries seemed premature. It’s conceivable that we’ll get another bounce ahead of Christmas but I’ll be honest – that was a strong move and the situation is looking pretty dire here.
On a side note: The whole ‘evil [...]
Santa apparently came early this year and he’s ready to play! I hope you haven’t been naughty and stuck with our script or he may be paying you a special reeducation visit. Alright we’ve got setups setups setups! Equities seem to have held up well overnight and we seem to be on course for a continued squeeze higher.
The only fly in my ointment was the rather marginal Zero signal post FOMC announcement. Clearly very few players were participating ahead of time but I would have expected a bit more juice there an hour or so after the verdict. But let’s not jump to conclusions just yet – we’ll be monitoring the situation today and [...]
Quite a ride over in equities yesterday but miraculously the long positions I placed early in the day survived various shake out attempts. Thus far things are looking positive but don’t get too comfortable as we may see another attempt to scare the children today.
That was close! My stop was two ticks below 1860 and it almost got taken out. That would have been annoying to say the least. The good news is that we’ve produced a whole latter of Net-Line Sell Lines which on the hourly which should offer layered support on a retest.
AUDJPY – I very much like the configuration on the daily and am currently waiting for a little drop lower [...]
The biggest news yesterday was not that the Fed once again chickened out and left the federal funds rates untouched at zero. I could have told you that ahead of time. And guess what – I actually did on several occasions. No, real big shocker yesterday was some very carefully worded mention of negative interest rates. Say what? The sheer fact that these three words were uttered by Mrs. Yellen during her address speaks bounds about the growing fear deep inside the bowels of 33 Liberty St.
Who of us would have thought a year ago that we would be entertaining the thought of NIRP instead of raising interest rates perhaps for the second or third time by now? And that [...]
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