Short version of the Fed statement: “Everything is simply fabulous; but, we’re going to hold off for at least a few months on raising rates because you just never know…”

Apparently, after 7 years of lower or zero interest rates, we’ll never know.  There was some word tweaking that I’ll leave to the linguistically-focused.  The only thing that matters is that central banks and their lackeys everywhere swung into action as soon as the “market” reached our second support level.

With the futures off a few points a half hour before the cash open, USDJPY and CL are working overtime to prevent all that fabulousness from spilling over into an ugly response to the FOMC.

USDJPY broke out of the small falling purple channel and above the big red channel midline.  Who would’ve thunk it?…and, CL broke out of the falling red channel and is busy chasing skyward to flesh out the new, wider white channel I’ve proposed.  Watch out for the backtest.

Just a reminder, I’ll be on the road today and tomorrow. I should get a few chances to post updates here and there, but all of yesterday’s targets and analysis (members’ section) are still appropriate.  There is some pretty useful stuff updating our analog and its implications for the next few weeks.

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Members: I’ve finished updating the performance figures for the first six months of 2015.  So far, so good, as we’ve averaged over 13% per month.  The full results are available HERE.

Also, for those not on the mailing list, we announced a significant promotion on annual memberships late last night.  A snippet from that announcement:

NOTE: To celebrate the relaunch of pebblewriter.com, we are offering Charter Annual Memberships for only $850 to the next 12 members who subscribe. This locks in your annual membership cost for the life of the site. 

It’s a pretty sweet deal, as members who are still paying $500/year from 2012 (versus the standard $1,200) will attest.  Get a full year of great research and analysis for the price of less than six months at the monthly rate of $150.  And, your rate is guaranteed to never go up.

The full details may be found HERE.  If the post is still up, there is still availability (or, I haven’t had a chance to get to my laptop.)

Good luck to all!