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  2. Amazing how they pin the market in a millionth of a percent trading range all day. Then gap it on the open the next.
  3. Today
  4. Trump declares himself the King of Israel. Market tops out. Try Lee Adler’s Liquidity Trader risk free for 90 days! Order before 1:00 PM Eastern time on Wednesday, August 20 and get the first month free! If you cancel within 30 days, you will not be charged. 90 day money back guarantee period also applies from the intial signup date. This offer applies to first time subscribers only.
  5. The dinosaur pattern normally resolves to the upside. First Month Free and 90 Days Risk Free If You Join Today Try Lee Adler’s Technical Trader and Liquidity Trader risk free for 90 days! Order before 1:00 PM Eastern time on Wednesday, August 20 and get the first month free! If you cancel within 30 days, you will not be charged. 90 day money back guarantee period also applies from the intial signup date. This offer applies to first time subscribers only.
  6. But that upsloping green Gann Fan line around 2920 that the market has been crawling up since late yesterday afternoon has to break decisively first, or I have my doubts we are done to the upside just yet. OK, now I'm talking to myself. Sounded better in my head than it looks on a chart. 😊
  7. Maybe it's just about another return to the scene of the crime at the 8/8 line around 2930-ish on ES? Occam's Razor (at least a guy can hope, though it's rarely that easy or simple).
  8. All Ords 5-day chart  http://bigcharts.mar...com/default.asp All Ords meandered sideways for the rest of the day, closing -0.8%. Sectors were mostly down: Miners -2.2%, Materials -2% and Consumer Staples -1.8%. Over in Asia, China flat, Hong Kong +0.2%, Japan -0.3%, India currently -0.8%. UK/Europe off and running: FTSE +1.1%, DAX +1.2%, CAC +1.5%    http://bigcharts.mar...com/default.asp
  9. http://money.cnn.com...s/morning_call/ 24 hr Gold    http://www.kitco.com   http://www.kitconet....ase_metals.html http://www.kitconet.com/indexes.html
  10. A touch of doom & gloom about: Kiwis -1.6%, Aussies -1%, Japan -0.6%, Sth Korea +0.1%. Mostly down for Aussie sectors: Consumer Staples -2.1%, Miners -1.7%, REITS/Materials -1.5%. Gold is the only gainer, +0.2%. All Ords http://www.abc.net.au/news/business/
  11. Yesterday
  12. Thanks. I wonder if we have exceeded the relative amount of Treasury paper now vs WWII? You know, an actual war.
  13. Significant? Like QE sized? No. Typically they expanded the balance sheet a few percent each year with POMO. WW2 was the exception. The Fed monetized the war debt, and redeemed it after.
  14. I'm still trying to get a history lesson and never seem to find the answer. Did the Fed ever buy significant amounts of coupons from 1913 to 2009?
  15. $3 billion in bills. Proportioned according to current balance sheet levels. This is not QE. It's to stabilize the balance sheet by buying Treasuries to replace paid down MBS. No difference if bonds or bills. Cash to the dealers. Cash is cash.
  16. Was it mostly T bills? It seem sort of stupid for them to buy coupons with the yield curve inverted. Could you give us a history lesson Dr. Stool. Did the Fed ever buy coupons, except in perhaps occasional nominal amounts, prior to March 09? QE is in the end just an Open Market Operation. Different because it was coupons. Buying T Bills will not be called QE. I suppose we should consider the possibility of massive Bill purchases. Which has the bonus effect of being an instant same day boost to the markets. Have to start watching the NY Fed announcements everyday like the old days. Well I didn't.
  17. Been talking about "Sven's" megaphone pattern since May 5 with an expanded discussion on May 28. http://wallstreetexaminer.com/2019/05/stock-market-long-term-chart-outlook/ Since then we've seen warning after warning, but no breakdown. The PPT has been hard at work.
  18. I'm hoping for 3100 in late September. Steve Henrich's wedge and trend line.
  19. The world has gone from total rejection or ignorance of Lee's analysis of how QE and it's resultant liquidity in the financial markets causes stocks, credit instruments and many asset prices to rise, to a total acceptance. While there is a mechanistic causal correlation it's good to remember there is a larger monetary foundation to why the system works that way. The correlation between QE and rising asset prices works only in relation to the larger monetary system. I don't know if we are a day or 5 decades away from monetary dislocation.
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