Lee AdlerThe conventional measured move implication of the breakdown below the December 2018 low is 1350. Other techniques point to that area.
With no prior announcement or clue, the Fed bought $37 billion in Treasury coupons from Primary Dealers on Friday. To pay for them it deposited $37 billion into dealer accounts at the Fed.
It was the largest single day POMO (Permanent Open Market Operation) purchase since the days of TARP and QE 1 in 2009.
It came without warning. I was so glued to the intraday live charts on Friday, I wasn’t even aware that the Fed had taken this emergency action until after the close.
We sure as hell saw the result. But this is only the beginning of this story.
Even before COVID-19 the trend was clear that the Treasury would need to keep borrowing money hand over fist. Now the deficit will explode. This…
Last week’s indications that gold was going higher failed miserably. A collapsing credit bubble takes no prisoners. When the margin man comes to your door,…
The S&P futures are trading limit down at 2812 as I write this at 2:50 AM Eastern Time in the US.
I suspect that the PPT will be in action over the next few hours. Whether they’ll be able to get it above support at 2850 or not is the question. And if they do, can they keep it there? If they fail, then we’re in line for an epic crash.
The cycle lineup suggests a low now, at least after this morning’s crash burns out. Here’s what to look out for.
With no prior announcement or clue, the Fed bought $37 billion in Treasury coupons from Primary Dealers on Friday. To pay for them it deposited $37 billion into dealer accounts at the Fed.
It was the largest single day POMO (Permanent Open Market Operation) purchase since the days of TARP and QE 1 in 2009.
It came without warning. I was so glued to the intraday live charts on Friday, I wasn’t even aware that the Fed had taken this emergency action until after the close.
We sure as hell saw the result. But this is only the beginning of this story.
Gold again challenged trend resistance and pulled back. This is a multiple choice test. Here are the answers. Only one of them is correct. If…
The S&P futures are trading limit down at 2812 as I write this at 2:50 AM Eastern Time in the US.
I suspect that the PPT will be in action over the next few hours. Whether they’ll be able to get it above support at 2850 or not is the question. And if they do, can they keep it there? If they fail, then we’re in line for an epic crash.
The cycle lineup suggests a low now, at least after this morning’s crash burns out. Here’s what to look out for.
Investors and leveraged speculators instead took the coronavirus panic straight to the bond market. Dealers, bless their little hearts, were long up the wazoo. Talk…
Suddenly the trend of Federal Withholding tax collections is in critical condition. Subscribers, click here to download the report. Get this report and access to…
The miners had a stunning false breakout and bull trap. Here’s what to look for. Subscribers, click here to download report. Try Lee Adler’s Gold…
The ferocity of the surprise attack has been breathtaking, and deeply troubling, but here’s why the ingredients for a short term low are in place.…