So much to bitch about and so little time. EU is now back in their cage and should not be heard from for another 6 weeks, which will free up the markets and POMO to continue the ramp to infinity and beyond. The ramp job yesterday was classic intervention. All is well, so well the markets ramp 22 points in the first 5m and get a 3 point follow thru the next 6 hours and 27 minutes. That is confidence I tell ya.
Talking heads spewing their crap in overdrive this morning on CNBS. Liesman discussing the upside to the jobs report is disgusting at best. Not so sure why I watch anymore. They have moved to tragicomedy status and honestly have become more painful to watch (even Mandy is not doing it for me anymore). I guess it is kinda like watching Jenna Jamison go at it for the 500th time, it gets a little tired.
Economic Calendar - Pretty busy week after today. Please ALWAYS check the calendar.
POMO Schedule - $39B in POMO this week. (We'll most likely have POMO from now to infinity or till the systemic failure that is destined to come.)
Shanky's Dark Side - Where I call all the intraday action and throw out tons of charts.
Pivot Points - For what they are worth in this busted market.
POMO bitchez! POMO has apparently returned from it's one month hiatus while funding the muni-markets, the IRE bailout and pumping funds into the IMF for Spain. What an entrance, even Liberace would have been impressed with the morning woodie they put in that first 60m candle yesterday (but certainly not with the way it petered out the rest of the day). Can the markets follow thru? The 30m charts say a corrective is due here. Possible base channel forming indicating much more upside to come. Looking for 100 to 1195 as pullback targets. Something to note is the RUT is the only major index to have not taken out its April highs. It came within two points yesterday.
Have not shown the CPC chart in a while. This chart says the markets should have topped or are at a minimum nearing a point where a top is near.
Yesterday was a surprise to me (and many others). We should be used to those by now. When playing with a dealer that has a rigged deck and unlimited bankroll (fiat of course), you should expect that. We can't afford any negative emotions thru the Xmas season. Everyday from now thru the 24th needs to have Black Friday hysteria. Get out and trample your neighbor for that $15 toaster.