Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
The only talk this morning on the TV-sphere and the blogosphere is when the powers that be are going to come to the rescue on their white horses. Market participants have been trained to expect it and now this is all anyone can discuss. Not a healthy thing, but a sign of the era.
There is an ECB meeting midweek and Ben speaks to Congress Thursday so while the market should flop around between here and “there”, it’s all about the intervention for now. Technically, the market is broken – dead cat bounces can be expected of course at any moment but there is a ton of work to do before a healthy atmosphere is created again.
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