Home > Financial Ponzi, investing, Stock Market, technical analysis > Dreams of Fed Intervention Trump Real Data

Dreams of Fed Intervention Trump Real Data

It’s been kinda funny watching the market roll over the last couple of weeks, having peaked the day after QE∞ was announced.  We have seen genuinely good news over the last few weeks – a couple of positive jobs numbers that beat expectation, and a good retail number that beat expectation this morning – and each “positive” report has been met with selling shortly thereafter.  Real good news is proving less potent than the promise of forthcoming Central Bank intervention.  Now that Bernanke has fired the bazooka the market is unimpressed by decent actual data.

Both High Yield and Emerging Markets have held up okay in recent weeks.  Let’s see if their recent strength with serve as a cue that the S&P can hold the 50 day.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: