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Monster Mash T-bill Smash 7/27/22

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For the story behind that headline, see:

The Bond Rally That Fooled The Majority And Didn’t Help Dealers

Meanwhile, check out the dreaded Codpiece Pattern, on the hourly chart of the ES continuous 24 hour S&P fugutures. Truly frightening as the market awaits the pronouncement from of Lord Jaysus on Mt. Smellarat. 

There are more criscrossing channels there than a basket weaving class. And anything that happens before the Jerome Lying Through His Teeth center ring show this afternoon is meaningless anyway.  I'm going to head out for the day. Wait till tomorrow! 

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I see the upmove from the June low as a technical one. They simply did buy the 200 week/50 month EMA in SPX, NDX, SOX… They always did that since 2009. It always worked.

Will it work in the current environment? Could be, if the FED reverses course immediately. Will they?

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We are so fortunate to have a Federal Reserve bank working diligently on behalf of us common 'mericans.

I shudder at the thought of what our society might be like if they worked only on behalf of the 1%.

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3 minutes ago, DrStool said:

Pervy stuff there, Jimmah. 

He's the perv!

He's the one who talks dirty in public!

I mean, he just said they want to use their tools to confront wide spread challenges.

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46 minutes ago, DrStool said:

They shoulda done 100. 

definitely.

But they will go on with reducing the balance sheet, I think he even said „substantially reducing“. 
Just a few secs ago he said that they will go on as planned with reduction, means that they will reduce MORE from September on AND he said that he is pretty confident and sure that the market will absorb this (sic!!!!).

 

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