Daily Market Brief

Eternal Fed Love

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On to charts: Markets looked to be close to breaking support after Friday’s disappointing jobs report. But no worry. The Fed was on it, this time with soothing words from the Fed’s Dudley that hit the wires:

FOMC Dudley: Must monitor if jobs report foreshadows deeper slowdown.

Translation: No rate raises. Rally on.

And so the auto pilot program continues with soothing Fed speak whenever needed:

BPSPX

Charts:

DJIA D

SPX D

INDU W

SPX W

SPX M

The simple message: Unless something breaks in the structure things will remain the same.

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Categories: Daily Market Brief

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1 reply »

  1. We have 20+ central banks easing and the world is flooded with money. FLOODED. It will not go to wages but the top 1% (stock holders, hedge funds and corporations paying CEO’s millions). Stocks can not and will not go down in this kind of environment. If they do even try to go down, the NYSE will invoke a special rule for a volatile morning open, which will allows a central bank to print 1 trillion dollars and use that money to start buying.
    If they do not do it explicitly they will ask Citadel or Bridgewater to do it on their behalf with their credit lines extended.

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