“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You’re on your own. And, you know what you know. And YOU are the one who’ll decide where to go…” Dr. Seuss
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Lately, the markets are so nonsensical that they might have been lifted straight from a Dr Seuss book. We’ve had manipulation all along, but it’s been quite a while since it was quite this bad.
SPX spiked up through its 10-day moving average on Jun 29, two days after the post-Brexit lows, and hasn’t tagged it since. It hasn’t gone that long between SMA10 tags since November 20, 2014. Then, the 14% spike following Bullard’s hints re new QE kept it above the SMA10 for 23 sessions.
Will we finally get that long-overdue pause, today?
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