03 June 2014

SP 500 and NDX Futures Daily Charts - Begin the Beguine

Another low volume hootchie kootchie day in the equity markets.

The news that may drive stocks one way or the other are the ECB rate meeting on Thursday and the US Non-Farm Payrolls report on Friday.

Until we get some clarity on the real economy, volumes may not pick up and the trade may continue to be highly technical in both stocks and bonds. The Banks and Funds are gaming the markets with the Fed providing the backdrop for price distortions with their top down 'stimulus' policy.

In case you were wondering, absent an exogenous event they can keep this up for quite a while, surely longer than you can keep averaging down on leveraged ETF bear sucker bets.

I own no equities and am not short anything. I do hold both gold and silver in my trading account.

Have a pleasant evening.