POMO Update
POMO Update
In terms of setups I’m running empty today, so it was a good time to visit my POMO chart to see what Helicopter Ben has been up to as of late.
Obviously ‘QE2′ is officially over but there have been a few stragglers here and there. Seems the ole’ chopper is running on fumes but it’s still hovering:
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Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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Quite a drop in the outstanding in the past few weeks but never forget that we are waiting for a zero reading or lower. Right now my 20-day rolling POMO reading has settled around 13 Billion – not huge by recent standards but patience is key. Today’s session may look very bearish but history suggests that until we see this indicator settle at the zero mark those magic dip buyers can make an appearance when you least expect them. Trade accordingly.
Cheers,
Mole
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