As discussed yesterday, stocks spent the night building a cushion based on VIX (currently off 5.4%) in preparation for tomorrow’s FOMC announcement. It started just before the close, yesterday, and has built to a 6-pt gain in the futures.Actually, it’s been less of a rally, lately, and more of an effort to maintain ES at … continue reading →
Markets tend to moves higher on Fed minutes days, even if the news isn’t all that positive. It’s all about convincing investors that the FOMC has their best interests at heart — that all they’re worried about is making sure that stocks continue to rally. Today’s session is slightly complicated, then, by ADP employment which came … continue reading →
Only a couple of years ago, central bankers became adept at repairing the damage done to stocks after big shocks. That changed with Brexit, when the strategy shifted to pushing stocks as high as possible before the damage was done… and, still doing all the requisite ramping after the fact. They perfected the technique after the … continue reading →
In my younger days I played Rubgy, a drinking party with a little sport thrown in to make it legit. I don’t know if it’s still so, but back in those days, when the parties (always with the opposing side, much more civilized than American football) reached a certain level of inebriation, someone would start … continue reading →