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With the S&P 500 futures having traded in a range of less than 1% for the past 8 sessions, the New York Stock Exchanged announced today that it would only open twice a month for price fixing operations. Daily trading, particularly 24 hour trading around the world is no longer necessary, now that stock prices have reached a permanently high plateau, according to NYSE CEO Moe Howard.
CNBC announced that its daily propaganda programming would no longer be needed and that it would transition to a cinema verite format.
Maria Bariatricaroma announced that she would retire from Faux Business News. Wall Street bankers looked forward to her return to her early career as hooker to the stars, of Wall Street. She had continued this work secretly in recent years for select clients, with her Faux work a front.
Her less attractive CNBC colleague, Joker Nen, will be let go. He will return to giving blow jobs in bus station restrooms.
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Meanwhile, here’s the big picture technical outlook.
And a QE update.
Here’s a freebie on my reaction to what the Fed did last week.