again, for the short term, NDX/QQQ is the one to watch. QQQ has a new high yesterday. patternwise it is likely that it will try to build a lower high. The megatechs seems to be building a long-term tops.
You better think Janet is having lots of late night phone calls. Remember how long it took before we found out how Bernanke had to pomp billions of dollars into Europe during the last derivative caused credit crisis.
An old favorite that keeps showing up.
the rebound may have small legs if not the low was in for today. I'm disappointed, bears simply cannot have a downtrend day.
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The point I was trying to make visually was that in spite of all the central bank printing we are slowly but surely being drawn to the event horizon where the credit collapse black hole takes control of the western worlds banks. Last time they tried out the new engines of ZERP and NIRP with the massive printing and it worked for a while, but we never broke free. The popular narritive is that Deutsche Banks slow mo collapse will be the event trigger.
SPX hourly.. dueling hammers.. still 15m to close the candle.. VIX holding up.. so far… but as you know it tends to move sharply near end of day..
Yellow trend.. still sticky
Daniel wrote:GS down nearly 4% today; JPM at fresh lod
XLF long term weekly.
KRE leading to the downside, fresh LOD.
Excellent longterm chart by BB52 on the key financial sector, page or two back.
Mkt is NOT breaking to new highs in the remaining days of April, if the financials don't at least stabilize. Don't need to lead, just not be so large a drag.
2nd test of day low, sharp rebound anytime would be mean the low was in, so key time. bears must push harder.
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