Welcome and thank you for visiting!
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
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
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Wednesday, March 20, 2013
The Fed Umbrella...
You can find today's FOMC meeting Statement, Economic Projections, Federal Funds Rate, and Chairman Bernanke's Press Conference links here (just click on the file folder to the right of each, then click on the 'latest release' link for further details).
With the Fed supporting these markets with unprecedented monetary easing and stimulus programs, they are sloughing off what would have been considered market-moving negative news in previous years (including macro-economic news, as well as domestic economic and company earnings and forward-guidance data). It appears that neither fundamentals nor technicals matter anymore.
Forewarned is forearmed.
You can see from the Monthly charts of the Major Indices below that the only two Indices that haven't yet surpassed their 10-year highs are the S&P 500 and the Dow Utilities. The SPX is a breath away, so no doubt, traders are expecting that to be reached...the question is, "What happens next?" Hint -- watch for parabolic moves, which may occur before any further profit-taking occurs, particularly as fund managers prepare for end-of-month/quarter (and the Easter long weekend) window dressing.