Well .... Draghi Delivers The Bazooka: ECB Announces Surprise Refi, Marginal Rate Cuts; Boosts QE To €80BN, Adds IG Bonds. What were you expecting - a dud? I guess my non-bear stance has been vindicated. Screw reality - till it matters. Note - this is most likely their last bullet (and it will prove to be useless in the end).
On to the lie -
Well, "Maybe they gap it up thru R in the AM? Not sure, just seems like a logical guess based on position".
When will enough be enough? Not sure, but we're getting close. I'll have to digest this move and the charts to see what they say. Remember I don't think the ECB moves have real substance and have been short lived rallies in the past. the shorts go slaughtered into this as they should have been, we all pretty much knew this was coming. My only question is when does the Fed ease again? They will at the last desperate moment. More pressing will be the next FOMC and what sort of news they generate. This may take some of the luster off this pop.
SPX 5m - The end of the wedge and this pop change things somewhat technically. I wanted a dip and pop to set a neg div on the daily chart to end this overbought nightmare. This is a bit quick. I wanted a slightly deeper and bit longer in time move, but this may be it. I'll be retreating into digestion mode today.
Freedom watch -
Wait, didn't the Sauds finance another very high profile event .... Missing Clinton E-Mail Claims Saudis Financed Benghazi Attacks.
And you need to be aware of this - the greatest global disaster ever just sits there poisoning the planet. Maybe if we don't look at it or acknowledge it, it will just go away - Fukushima's ground zero: No place for man or robot.
More to come below.
Have a good day.
GL and GB!