sp'monthly'8 - QE periods
sp'weekly8
Summary
*with further gains, the weekly candle has turned green, and we're back to an outright bullish market. Upper bollinger is offering the 2030s.. which seems viable as early as next week. By mid October, we could be looking at 2050 or so.
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So... QE will be a mere $15bn a month starting Oct'1st. It will be fascinating to see how the market reacts (psychologically) in the remainder of the year.
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| The sun is setting on QE3 |
Looking ahead
Many will be focused on the Alibaba IPO (ticker BABA). I'm unsure as to when it will be listed, but regardless, it'll be the worlds biggest single IPO. With investor demand and media attention at such high levels, I would not be surprised if it hit $100 on the opening day.
Weekly jobs, housing starts, and Phil' fed... will also be something to give prices a kick in early morning.
*there will be very minor QE-pomo of around $0.3bn.
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Goodnight from London