The Fed’s “taper” announcement was actually just a signpost on the stairway to heaven.
The 5 day cycle projection on the ES S&P 500 fugitures is now 4685. But the chart shows trend resistance at 4670 and 4700. The market always likes round numbers. 4700 is a done deal in my view. Today? Sure. Why not.
I am assiduously working on a Liquidity Trader update with an analysis of what happened yesterday, a view of what’s likely tomorrow, and a dive into real time tax collections to tell us what’s actually happening as opposed to Mr. Powell’s breathtaking double talk. Judging by how often he cleared his throat yesterday, it obviously even took his own breath away.
For more:
Gold Is in Perfect Equilibrium AND Maximum Uncertainty
Swing Trade Screens Yield More Sells than Buys Again
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