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Friday, March 29, 2024

Comment by phil

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  1. phil

    Lots of crazy stuff going on.  I think things are so bad they are now good again, with everyone expecting massive Central Bank intervention.  That closed the Shanghai back over 3,000 on a 2% run into the close:

    Europe is simply just being insane – down half a point and snapped right back up and now green:

    As expected, volume was high yesterday and pretty much all downhill:

    SPY  5  MINUTE

    Check out the Advance/Declines:

    On the whole, not a healthy market but perhaps so bad it is getting good – especially with the Fed coming tomorrow.  Until 2pm, hopes will be pinned on some sort of action.  Per Dave Fry:

    I can only imagine what the Fed is thinking and discussing as they meet Tuesday. Clearly they had been transmitting through their media contacts they want to raise interest rates sooner than later. They would do this since they’ve needed an exit strategy from experiments with first time monetary policies. These policies, QE & ZIRP, were easy to start but harder exit. Now with the Black Swan of Saudi policies battering markets they’ll have to change their plans abruptly. If they don’t, one would think there would be hell to pay in markets.

    SPY DAILY

    SPX WEEKLY

    INDU WEEKLY

    RUT WEEKLY

    XLB WEEKLY

    XLE WEEKLY

    XLF WEEKLY

    TLT WEEKLY

    UUP WEEKLY

    FXE WEEKLY

    FXY WEEKLY

    EWJ WEEKLY

    GLD WEEKLY

    SLV WEEKLY

    USO WEEKLY

    DBC WEEKLY

    EWZ WEEKLY

    Told you they were next:

    EPI WEEKLY

    FXI WEEKLY

    RSX WEEKLY

    Getting oversold (short-term):

    NYMO  DAILY

    NYSI DAILY

    VIX WEEKLY



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