When we thought a near term low was in, we expected a bounce over time into resistance. Instead, it has been a rompin stompin bull move. This rates a big wow. Only in a QE market can you get a long topping process that leads into a market top that leads into a mini-meltdown…a big reversal and a straight up move.

As technicians first, this is outlier stuff. We now have the Fed today. Markets, in the short term, have gone from massively stretched and oversold to the downside…to massively stretched and overbought to the upside. We would love to see some backing and filling to work off some of this heat. But in a QE market, anything is possible.

Most all indices are not just above longer term moving averages but are now above the 50 day. Again…wow! More to come after the Fed announcement.

2 replies
  1. victor
    victor says:

    The one with money wins, now the gov has it, and big financials are just following. Retail investor disappeared. who cares about 100 trillions of debt!
    What transparency they talking about on CNBC, we need transparency, the only way to do that is to full disclosure of who is buying and who is selling. other than that there is no transparency.

  2. victor
    victor says:

    Are you telling me the 7-8% correction that is completely wiped out and rough V shaped move, was not Gov organized and initiated!!!

    The Gov, is trying to teach the market to buy the dip!


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