FOMC’s Turn

Thanks to continuing yen weakness (due to the ongoing consternation in the Japanese bond market)… …and another timely shot across the bow in VIX……futures are back in the green, with yet another chance to break out even as RB and CL hurtle toward our downside targets.Can the algos continue to ignore the damage being done?  Perhaps they’re focused on AAPL, which rose to new highs after solid earnings and guidance after the close yesterday.  With its 2.24 in the rear view mirror, can AAPL break out above the troublesome channel top, or is the COMP model still in control — with a tumble due early next week?

And, then there’s the FOMC.  With currencies and rates right where they want them, there’s little chance they’ll ruin the fun.

continued for members


Sorry, this content is for members only.

Click here to get access.


Already a member? Login below

Remember me (for 2 weeks)

Forgot Password