What were we saying yesterday about the move in PM's and someone knowing something? Game on! China Enters Currency War - Devalues Yuan By Most On Record.
Has Greece finally been put to bed? I don't think so, but that's what they want you to believe for now. As STB has hypothesized for years now, the bailout conduit to the EU (think Paulson/AIG post RE bubble burst 2008) is far to valuable to the banks and nations to let go (see Germany). Third Time's The Charm? Greece Agrees To Bailout Amid Rampant Skepticism.
They are moving the rate hike again? LOL, they can't hike and if they do it will last less than three months. Since Goldman is rarely right (not till December) and only makes calls so they can make money, let's defer to the Fed - Did The Apolitical Fed Just Admit It May Not Be Raising Rates Before The Election? Maybe all that hype for a September hike was just that? LOL, of course it was. Dollar Dumped As Fed's Lockhart Fails To Mention Word "September". I'll say it again - they can not raise rates.
On to the lie -
A coupe of technical posts to take note of (for waht technicals worth these days given the Fed's total control).
The markets seem to be suffering from a case of bad breadth.
Technical Analysts Warn "Sell Stocks", "Get Defensive", As Momo Weakens And Breadth Breaks Down
I obviously prefer my charts, but you can look at these as well. Their numbers are right where mine are with surprisingly little analysis. All The S&P 500 Support And Resistance Levels That Matter
SPX 30m - Seems to be a good chart to watch as price continues to consolidate around 2100.
Freedom watch -
And to complete the all ZH link post this morning - Don't Be Fooled By The Political Game: The Illusion Of Freedom In America
More to come below.
Have a good day.
GL and GB!