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World Stock Markets Trading Discussion - Cleft crust

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All Ords 5-day chart




The bears were running the show today .. All Ords closed -0.8% led by IT -2.4%, Miners -2.3%, Materials -2%.  Energy +0.2% was the only sector to gain.

Over in Asia, China -0.1%, Hong Kong +0.7%, Japan -0.1%, India currently +1.1%.

A very positive start for UK/Europe: FTSE +0.6%, DAX +0.9%, CAC +0.4%.







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So the Fed has to keep the repo market rate repressed.

So it can keep the treasury yield curve repressed.

So all the other bond rates can be kept repressed.

That sounds like a lot of bond bondage to me !!!!!!!!!!!!!!!!

Fed has to guarantee the profitability of all the bond leveraged  carry trades.

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So we have a breakout of sorts. Not very impressive. Is the SPX drops below 3003, that could be a fail. Below 3000, and there's be little doubt. But if it holds this gain, the next target would be 3028. 

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