QE Eve. If they had been smart they would have had this announcement coincide with the holiday last weekend, but I'm not in government, so I think rationally. Instead it falls three weeks or more after first announced and their initial intent of a "free ride" on just the promise of QE (as we've seen with every instance in the past) has drawn no more than a #FAIL. Don't get "overexcited"?
Scuse me, we waited all this time for don't get "overexcited"? Don't worry, we didn't and neither did the markets. No new ATH's this time. Are the tides finally turning on the liquidity train? Are the Keynesian prophets tapped out, or are their pockets so overflowing with all the stolen cash they can't take any more in? I think the CB's of the world know they have gone too far. The parasite has almost killed the host.
At least the ECB QE debate ends tomorrow. Can't wait for the next announcement, which could come on the heels of this one, should come from the Fed and has potential to be either a surprise or really large if the markets react negatively to this ECB #FAIL moment.
On to the lie -
Failure to deliver on a QE promise that did not ramp the markets to create any cushion for such failure has potential to be devastating. If the drug dealer runs out of hopium, the addicts reaction/withdrawal is not a pretty sight.
SPX Weekly - This one scary chart.
SPX Monthly - This chart is scarier than the one above.
I believe the end is near.
More to come below.
Have a good day.
GL and GB!
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