A short term top and minor correction are due but intermediate cycles still point higher. We have more stockchart picks to take advantage either way.
The Fed buys the paper from Primary Dealers. The dealers act as middlemen or straw men, acting on behalf of the Fed. The dealers purchase newly issued bills notes or bonds from the US Treasury. They in turn sell that paper to the Fed with a markup. That markup is their skim.
The money that the Fed deposits in payment is then their cash to use for trading whatever they want. Usually that includes a big slug of equities, in addition to Treasuries and whatever else they make markets in.
Here’s what they did yesterday.
I have this weird feeling like we’ve been here before.
I can’t quite put my finger on it.
That was yesterday’s lesson. Here’s today’s.
The kerplunk herd round the world.
5 day cycle projection 3412.
The forecast has changed. It’s less bearish, but it’s still bearish. Here’s why.
Bulls are a stubborn lot. Here’s what this hourly chart of the ES futures tell us.
Chart not loading. I’ll be back.
The correction has begun. Here’s what to expect. Subscribers, click here to download report. Try Lee Adler’s Gold Trader risk free for 90 days!
It sure looks like a consolidation. Wouldn’t it be something if it broke down!