RIPQE

Here lies the charred remains of Quantitive Easing – Time Of Death: 2pm October 29th, 2014. May you rest in piece – it’s been fun. The market is now officially on QE cold turkey (just in time for Halloween I may add). So when are they announcing QE4?  Just kidding!

Well, the good news: the Dollar is up and the Euro continues to drop as I’m typing this. Which of course serves this expat just fine. Alright – let’s review the damage, shall we?

Big FAIL on the gold front – it never even had a chance of touching that NLBL on the daily. The weekly appears to be a goner as well. Next target is the weekly NLSL at 1183.3.

The Euro – ouch, that is one ugly chart. Technically we have now established a falling diagonal which should act as resistance on the next bounce. What doesn’t help the Euro’s case is that it just sliced through that daily NLSL as well.

Obviously the inverse on the Dollar front – if you squint you can make out the finger of God on the hourly panel. On the daily we also now established a rising diagonal and it just crushed a NLSL which should not start acting as support. Very nice and a breach of the old highs are now a possibility.

Equities – actually thus far they’ve been holding up pretty well! I don’t see anything nasty here and my long positions remain in good shape. Nothing to add really – let’s see how we close the week. But this is pretty positive.

A few setups while I have your attention – please step into my lair:

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Cheers,