As we can see on the 4-hourly charts below of the YM, ES, NQ & TF, the markets are quite capable of rallying a great deal in a day (we'll see it they can now hold above their shorter-term downtrending regression channel "mean")...so why do they need QE3?...really?...and who says they're in need of it and why?...if it's because "they've" mismanaged their financial affairs, why should "they" be rewarded? I say, let all politicians lead by example and do what's necessary to bring each of their respective country's financial affairs under control...if they've got the will...they are, after all, accountable to their electorate...and, surely, they've got the human resources available to help guide them through such a process...if they haven't (on both counts), then we're all doomed.
Some will see ships and some will see a bridge...
Life's a puzzle to me...I just try to work on it one day at a time to try and make improvements in my life that will benefit me (and perhaps even spin off and help someone else in the process)...
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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UPCOMING (MAJOR) ECONOMIC EVENTS...
* Wed. Aug. 16 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Sept. 1 @ 8:30 am ET ~ Employment Data
* Wed. Sept. 6 @ 2:00 pm ET ~ Beige Book Report
* Tues. Sept. 19 ~ 2-day FOMC Meeting Begins
* Wed. Sept. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. Oct. 31 ~ 2-day FOMC Meeting Begins
* Wed. Nov. 1 @ 2:00 pm ET ~ FOMC Announcement
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference