The fact that there is no pullback after a 17% run tells me qe3 has been implememted & any pullback will probably be intraday. I’d have to see 2 down days in a row to think otherwise.
I suspect we’ll make a run for the 127.07 FP tomorrow morning ACP, and then sell back off. Today should close near the highs, and tomorrow should put in a “topping tail” on the daily chart.
I forgot to mention…read the description on “Other Fed Assets” and then notice the dip that happened recently. What took a swan dive lately? Both the euro and stocks, that is before the Fed decided to start buying more……
The fact that there is no pullback after a 17% run tells me qe3 has been implememted & any pullback will probably be intraday. I’d have to see 2 down days in a row to think otherwise.
I suspect we’ll make a run for the 127.07 FP tomorrow morning ACP, and then sell back off. Today should close near the highs, and tomorrow should put in a “topping tail” on the daily chart.
Oh we’ll hit it, but the question is when. Doesn’t sense with the put call so low…
Looks like we are going up to the FP on SPY of 127.07 before crashing ACP…
Looks like the Fed is now everything on Earth that people don’t want. No reason to stop ramping, ever.
New quick “5 Minute” update…
http://screencast.com/t/ZP97AhpYf
US Dollar near 200 SMA: http://niftychartsandpatterns.blogspot.com/2011/10/us-dollar-near-200-sma.html
ES Resistance levels : http://niftychartsandpatterns.blogspot.com/2011/10/es-resistance-levels.html
http://www.nytimes.com/interactive/2011/10/23/sunday-review/an-overview-of-the-euro-crisis.html
I forgot to mention…read the description on “Other Fed Assets” and then notice the dip that happened recently. What took a swan dive lately? Both the euro and stocks, that is before the Fed decided to start buying more……