11 March 2016

SP 500 and NDX Futures Daily Charts - 'Reconsidering' the ECB's Recent Action

According to the official spin, traders 'reconsidered' what the ECB did this week, and what Draghi had subsequently said, and gleefully cast off all doubts and concerns about risks and started buying equities.

Yes, I am sure that this is what happened.

Just as I am sure that all the lying, manipulating, and looting will also continue, until morale improves and confidence in our glorious central banks returns.

The SP futures were leading the charge higher, in a familiar pattern we tend to see whenever the Fed and the financial powers that be wish to instill confidence in their mighty judgements.

Next week we will have quite a bit more macroeconomic data as indicated in the advance chart below.  There will aslo be the March FOMC meeting.

Will they or won't they?

Have a pleasant weekend.