DrStool Posted March 22, 2019 Report Share Posted March 22, 2019 13 minutes ago, potatohead said: great article. One question, China's central bank has become a bigger player of money printing and balance sheet expansion. Why wouldn't you group them in with the other three Musketeers (FED, ECB, BOJ). Could PBOC be the next fourth Musketeer, d'Artagnan? Good question! China is sandboxed. It's not fully integrated with the rest of the world liqudity pool. Sure there's some capital flow, but it does not flow freely in and out. Has its own banks. Primary Dealers for the Fed, BoJ, and ECB are not big players. The can't take PBoC money and directly use it to buy Treasuries. And I do not believe for one minute that its central bank data is reliable. So I'm not going to add it to the Big Three composite that I chart. So I use the Shanghai Dow as a proxy for whatever is going on in China. I also track Fed custodial holdings which include China. I do consider China as an important peripheral influence. Link to comment Share on other sites More sharing options...
DrStool Posted March 22, 2019 Report Share Posted March 22, 2019 oops Link to comment Share on other sites More sharing options...
DrStool Posted March 22, 2019 Report Share Posted March 22, 2019 OK. Little shakeout, now here they come. Link to comment Share on other sites More sharing options...
DrStool Posted March 22, 2019 Report Share Posted March 22, 2019 SPX 3 day cycle projection 2775. 5 day 2785. Link to comment Share on other sites More sharing options...
DrStool Posted March 22, 2019 Report Share Posted March 22, 2019 I have a feeling Monday's gonna be ugly. Link to comment Share on other sites More sharing options...
DrStool Posted March 22, 2019 Report Share Posted March 22, 2019 right shoulder just a little weak. Link to comment Share on other sites More sharing options...
aussiebear Posted March 25, 2019 Author Report Share Posted March 25, 2019 ---> Monday maelstrom Link to comment Share on other sites More sharing options...
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