The Morning Look
Stock futures are relatively quiet as the world waits for the Fed meeting and press conference later today.
Gary’s Thoughts: Into the fed, just watch oils and financials. Both have set-ups to break out of. If they can go topside, there will be more upside. Remember, Japan printing 700 bil/year…Europe 1 trillion, China…over 1 tril, uk, sweden and of course, some of these places are buying up their markets. You figure it out!
Economic Data:
- MBA Mortgage Applications 7:00 AM ET
- Consumer Price Index 8:30 AM ET
- Housing Starts 8:30 AM ET
- Industrial Production 9:15 AM ET
- EIA Petroleum Status Report 10:30 AM ET
- FOMC Meeting Announcement 2:00 PM ET
- FOMC Forecasts 2:00 PM ET
- Fed Chair Press Conference 2:30 PM ET
Highlights:
Doubt the breakout will be today…Russel, retailers, Junk bonds….all seem to be breaking down.
Ok, I’ve changed stance…breakout now looks on today.
Good call
Japan prints, Europe prints, USA prints, China prints , and the markets go….ka boom.
We should rally now into EOQ ( end of quarter ) then a pull back a tad, and we test the prior market highs by July.
We breakout by September, and all new highs in the market into the elections.
So long as the planets banks are printing, and the dollar can determine the value of gold, we should have clear sailing ahead into the foreseeable future.