The Fed panicked today. It doesn’t know what to do because, as Jeff Snider pointed out, it has no clue what the disease is.
NO! It’s not the coronavirus, as the Fed claims, and litterally everyone believes. So the Fed’s prescription can’t work.
The Fed announced today that it would attempt to stuff $1.5 trillion in short term loans into Primary Dealer trading accounts over the next 3 weeks. OK, but will there be any takers?”
The calamitous triangle break that was pending yesterday morning, happened. We got the usual result. Badda bing, badda boom.
We got the expected rally, but God, it’s pitiful so far. This thing is on the verge of an explosive triangle pattern break.
Yesterday I led off with the thought that the fucutures had a bead on 2700. The intraday low on the futures was 2695. I’ll try not to break my arm patting myself on the back. But gee, this happens so infrequently, a guy should be allowed to gloat once in a while.
The rally that I half hearted expected seems to be under way. It better stick for a while, or you can bet your bippy that the gates of hell will open and we will all be consumed in the fires of eternal damnation.
And you know that I never exaggerate.
The S&P seems to have a bead on 2700, despite not trading all night.
Futures are in crash mode on Brown Pants Syndrome Day 2.
We’re looking at a possible Brown Pants Syndrome day.
Stock Market Trading Setup for Wednesday, March 4, 2020 Hourly ES S&P 500 Futures Chart As of 7:50 ET, the S&P futures are slopping their…
Stock Market Trading Setup for Tuesday, March 3, 2020 Hourly ES S&P 500 Futures Chart As of 7:30 ET, the S&P futures are on the…
