Tuesday, 11 February 2014

10am update - here comes the NIRP monster

The sp'500 breaks into the low 1800s, despite some market concern about taper'3 (seemingly likely at the FOMC of March'19). Metals are holding moderate gains, Gold +$7, VIX is a touch lower, but seems to be able to hold the mid teens whilst we are yet to clear the 50 day MA of 1709.



So...we're on the rise...for the fourth consecutive day, and the inv. H/S formation should be ditched about now.

Equity bulls should mere target a daily close >1810..which opens the door to new historic highs in March/April.

yours....awaiting..the monster...

*Anyone who touts NIRP as a valid monetary policy..IS monstrous...besides being academically stupid.

We already know the Yellen statement, what will be interesting will be her answers, and perhaps more telling, the manner of such answers. As ever, Mr Market is often more concerned with image..than the reality. Bears...beware!

ps. if Yellen appears in anything green this morning....yeah, ..that'd figure.

10.12am... oh great..its Maxine waters.... at least she seems able today, to distinguish between the Fed chair..and the Treasury secretary. Thats progress..I guess.

Market holding sp'1800...comfortably.

10.24....ohh jeez...8 years of this...probably. urghhhh

Market making a play for the 50 day MA..around 1810

10.45am.. watching Maxine Waters question Yellen...ohh the humanity!