1st test of ema20 in a long time so might be some buyers around here.
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Bam! There it is, the Powell Fed's put. Evans said balance runoff can be changed if necessary. That is a long way from Laurel Brainard last fall saying it was on autopilot.
/CL weekly long long term … 60.50 goes on the weekly grey line horiz start to look for $48-45 by summer .. "IF" DXY dollar keeps pushing up.. look to next month's Italian Elections, and any trouble with Merkel's German gov't .. the USdollar will explode up
Trades with cats wrote:Bam! There it is, the Powell Fed's put. Evans said balance runoff can be changed if necessary....
YESTERDAY:
HERE’S MORE ON THE FED UNWIND (and the definitions of “roll over” and “roll off”)
Of the $27 billion in Treasuries that matured Monday, the Fed “rolled over” $16 billion (replaced them by reinvesting the proceeds) and allowed $11 billion to “roll off” (got paid for them and did not reinvest in other treasurys). https://www.zerohedge.com/news/2018-02- ... es-sharply
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Moments ago S&P (the rating agency) downgraded WFC, the largest US mortgage lender from A to A-, due to "Prolonged Regulatory And Governance Issues" with a Stable Outlook.
[Are they up to their old tricks? Downgrading way after the fact?]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Bank stocks should be in trouble here. Wells with the regulators and a second reason for them is fee income. As the largest mortgage loan originator they are bound to be hurting as Powell's Fed continues to destroy affordability by moving rates up. Assuming everybody saw that Deutsche Bank is a big concern because 10% of their stock is owned by the Chinese conglomerate that will be the largest bankruptcy in that countries history (if Xi Jinping does what he promised on reform).