07/10/2013 Live Update

[Cobra]

Participants also described their views regarding the appropriate path of the Federal Reserve’s balance sheet. Given their respective economic outlooks, all participants but one judged that it would be appropriate to continue purchasing both agency MBS and longer-term Treasury securities. About half of these participants indicated that it likely would be appropriate to end asset purchases late this year. Many other participants anticipated that it likely would be appropriate to continue purchases into 2014. Several participants emphasized that the asset purchase program was effective in supporting the economic expansion, that the benefits continued to exceed the costs, or that continuing purchases would be necessary to achieve a substantial improvement in the outlook for the labor market. A few participants, however, indicated that the Committee could best foster its dual objectives and limit the potential costs of the program by slowing, or stopping, its purchases at the June meeting

looks to me, qe still is on.

[daytradingES]

Time for a nap

[Al_Dente]

Internals usually hinky after FOMC

[learningT]

Took some FXI Puts

any insight?

seems FXI is in a bottoming process and oscillators are pointing up?

I see the rebound as very weak. It is already on its second leg up.
- It is also heavily weighted with Financials

Thanks. share your view as the regulatory issue in China's financials might take a few months at least to work out

[Al_Dente]

Participants also described their views regarding the appropriate path of the Federal Reserve’s balance sheet. Given their respective economic outlooks, all participants but one judged that it would be appropriate to continue purchasing both agency MBS and longer-term Treasury securities. About half of these participants indicated that it likely would be appropriate to end asset purchases late this year. Many other participants anticipated that it likely would be appropriate to continue purchases into 2014. Several participants emphasized that the asset purchase program was effective in supporting the economic expansion, that the benefits continued to exceed the costs, or that continuing purchases would be necessary to achieve a substantial improvement in the outlook for the labor market. A few participants, however, indicated that the Committee could best foster its dual objectives and limit the potential costs of the program by slowing, or stopping, its purchases at the June meeting

looks to me, qe still is on.

gives me a headache
let's just blame fiscal policy
oy

[daytradingES]

missed getting a fill and its moved up now.
Cancelled buy order.
GLTA

[uempel]

show time. no comments. wait for the dust to clear first.

Hey Cobra, you speak like a cowboy after a shootout. Are you wearing a Stetson?

[joegamma]

show time. no comments. wait for the dust to clear first.

Hey Cobra, you speak like a cowboy after a shootout. Are you wearing a Stetson?

SPX9.png

"MR MARKET: 'Tear Down That Resistance!!"

[TWT]

$SPX: The short-term bearish set up has been busted

[MrMiyagi]

This up then down action seems to be quite the norm after FOMC the past few times.

[Al_Dente]

FAZ was a SCALP sell on break of 20ma 5minutes
That triggered about 28 minutes b4 FOMC
OY

[Mr. BachNut]

Moving up stop on my long. Could get hit if we have a bad close.

[Cobra]

double top not sure. not breakdown yet at least.

[Cobra]

breakdown but target I dare not believe as usual.

[BullBear52x]

hehehe yer shart is yer only friend

[Al_Dente]

full text of minutes
http://www.federalreserve.gov/monetaryp ... 130619.htm
zerohedge spins it:
"with half the Fed saying not just taper, but flat out end to QE by 2014, we now have a full blown mutiny in the Fed."

[user13]

full text of minutes
http://www.federalreserve.gov/monetaryp ... 130619.htm
zerohedge spins it:
"with half the Fed saying not just taper, but flat out end to QE by 2014, we now have a full blown mutiny in the Fed."

The funny thing is if you look at the Fed's Balance sheet from May, They are *technically* broke with the losses they took from the big drop in Bond Prices. (They only had 55 billion of capital in May)

http://www.federalreserve.gov/monetaryp ... 201305.pdf

[Cobra]

now target is possible at least confirmed double top. I said this before you never know a breakout/breakdown is for real, so either you blindly trade every breakout/breakdown relying on long run to win or you pray that after a breakout/breakdown price consolidates along the neckline.

[Mr. BachNut]

ES hit a high of 1653, four points above the June 19 high.
So, the buy stops lurking up there have been hit.
Now that is done, the market can proceed to its next destination.
The close and follow through tomorrow should give a clearer picture of where things are going...maybe...

[Al_Dente]

Internals update
Don’t blink
http://www.youtube.com/watch?v=FOVEhni4120