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Here We Go Again..ain…n…nnn

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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.

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Find the extended outlook at Liquidity Trader.

Where The End Stage Rally is Headed

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