I’m in the amazing city of Krakow, which most Americans have never heard of. It is a city of about 750,000 population at the center of a metro area of 1.75 million. It is one of the most beautiful, history laden cities I have visited in Europe. Yet, in many ways it feels very familiar. I have posted lots of photos at https://www.instagram.com/200daysineurope/, with many more to come.
After my 11 day semi vacation of whirlwind travel, from today on, I’ll squeeze excursions between my work commitments. I’ll be at Auschwitz tomorrow, then back to Krakow, then on to Warsaw for at least a month, where I’ll do some extended ancestral research.
But now it’s time to get back to work on a regular schedule! I miss our daily excursions into the bowels of the financial markets.
The market has reached some of our very short term projections with more to come. I have posted the extended outlook at Liquidity Trader.
Here’s our intraday outlook. 5 day cycle projections still point to 4385 but 5 day cycle indicators are currently on the sell side. Who wins? Normally the bulls. Is this time different? I don’t see why it would be. Especially because we’re coming into the Fed’s MBS settlement week, which nobody pays any attention to except us. They run from Wednesday to Wednesday ahead and total a ridiculous $127 billion. Bullish. I will post an updated QE outlook over at Liquidity Trader later today. Here’s the latest on that.
This overnight pullback has run into support at 4340. They would need to break that to get anything going on the downside.
If you are a new visitor, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.