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Posted in Lee's Free Thinking

Here We Go Again..ain…n…nnn

This is a syndicated repost courtesy of Stool Pigeons Wire at To view original, click here. Reposted with permission.

The ES fucutures dipped to spport lines in the overnight session in Asia, then the Europeans got to it, and lo and behold, they’ve rallied for the past 5 hours.  Resistance is indicated 4366-69. If they clear that, then 4377-78. 5 day cycle indicators have turned to the buy side.

Then of course there’s the fact that today begins the regular mid month MBS settlement week, which this week totals $128 billion, of which a ridiculous $83 billion comes today. This is on top of the $20 billion per week of daily Fed purchases of Treasuries. The Primary Dealers with be flush up the kazoo with cash.

Moron that here.

Meanwhile, here’s the chart as of 7:15 AM in New Yak.


Find the extended outlook at Liquidity Trader.

Where The End Stage Rally is Headed

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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.

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