Wait, global, hammered, cause of our Fed? That's right dear American taxpayer. Your future earnings and those of your children and grandchildren have been taken (not borrowed) by the Fed to fuel global
This is just fine by the way. The global recovery is so strong that no one really relies on the Fed's continued printing to stabilize anything, do they? Note the operative word stabilize. One would think that growth would be an operative word here after the trillions flushed into the system that were fractally expanded. Wait, where did all this money go? Well, you'll have to ask the 1% that question.
As their new taper ON policy shines a bright light on just how awesome the the Fed's policies have been, maybe the Fed's plan on continuing to manage the USD/JPY pair should be a more viable question? Well, that will never be addressed as the MSM is A) too stupid and B) to owned to dare shine a light on the only thing that's keeping the markets and their charade alive at this point.
Let this farce roll right into the coming debt ceiling discussions.Wait, stupid me, we have a
Don't forget your new buzzword Amerika - Capital Controls. They are coming. They have spent almost all the "future" money they can. There is only one place left to come for moar - your bank accounts.
On to the lie -
Minis 60m - Pretty simple this morning. They have improbably rallied against all odds off the lows thru one resistance (STB's red line of death) backtest and are now facing another. Channeling up (green) price has now reached the backtest resistance point of all backtest resistance points. The upper blue long term (as in upper market resistance off the 2009 lows) resistance and the near term STB bull/bear line here at 1802 is a most severe test for bull and bear alike. Some would call it the top of a 2 wave (in that nasty worthless parlance). This point has the potential to be a incredibly pivotal. You can see in the chart that even after five years its resistance significance remains in play. If it breaks, moar of the same. If it holds and we get a strong reversal here, it should be game over. That's it in a nutshell. The Fed knows this and so do all the other players. This is a MAJOR technical spot.
More to come below.
Have a good day.
GL and GB!