With Erik Hane Zero Hedge has previously discussed the bifurcation in market performance when comparing regular hour trading with that of the afterhours session, noting that in the September through December 2009 period, the market would have been flat if one were to strip away the benefit of gains after the market closed. Today, we take a look at a different set of data, namely observing a very peculiar market phenomenon associated with the term coined as Mutual Fund Mondays , especially over the past 6 months
We have long observed the recent tendency for the EURJPY to track the SPY almost identically on an intraday basis. Today, this relationship is no exception
The market gave us another classic example of the importance of monitoring price along with something else, such as a market internal or key indicator. In this case - February 22 - I wanted to show today’s lesson of how a “Rounded Reversal” pattern formed alongside positive and negative TICK divergences, and how this set-up some great opportunities… so that you’ll be better prepared the next time a similar set-up occurs.
After completing a perfect bull flag (in pure text-book example) as expected, the US Dollar Index is now forming a bearish ’sell’ signal at the target of $80.50, which is worth our attention. Pardon the purposeful alliteration, but let’s look at the Daily Dollar Doji Sell Signal: The Bull Flag target has long-been the $80.50 level, and now we’re seeing a short-term sell-signal in the form of a doji candle at the upper Bollinger Band on the daily chart
One of the less-reported events this weekend was the not so secret central banker meeting that is taking place in Sidney Australia. Now that factual details are finally emerging it is appropriate to collect some information tidbits about this shindig which has some claiming is reminiscent of a modern day version of the Jekyll Island meeting.
Yes, slowly but surely it is happening. In a federal notice filed earlier, the DOL and Treasury are soliciting a response on what has been on many investors' mind, namely the process of converting 401(k)s into annuity-like products. To wit: The Department of Labor and the Department of the Treasury (the "Agencies") are currently reviewing the rules under the Employee Retirement Income Security Act (ERISA) and the plan qualification rules under the Internal Revenue Code (Code) to determine whether, and, if so, how, the Agencies could or should enhance, by regulation or otherwise, the retirement security of participants in employer-sponsored retirement plans and in individual retirement arrangements (IRAs) by facilitating access to, and use of, lifetime income or other arrangements designed to provide a lifetime stream of income after retirement .
I recently highlighted the “ Bull Flag Formation in the US Dollar Index ” on January 18th (see prior post), and now that we have successfully broken higher confirming the bull flag, it’s time to take an updated view of the daily US Dollar Index chart to take a look at a “bump in the road” that must be overcome to complete the full target. Let’s see that now. Taking a compressed view, we also see the lengthy positive momentum divergence that preceded the sharp (expected) rally in the Dollar Index.
Zero Hedge discussed a month ago the disastrous prospects of what would happen if the new proposal contemplated by the SEC, which would allow the suspension of redemptions from Money Market Funds, were to pass. Well, in a nearly unanimous vote, Money Market Funds now have the ability to suspend redemptions, courtesy of the SEC's just passed 4-1 vote. This explains the negative rate on bills: at this point, should there be another meltdown, money market investors will not, repeat not , be able to withdraw their money purely on the whim of Mary Schapiro.
We are currently going through the recently released Special Report by Darrell Issa: "Public Disclosure As A Last Resort: How the Federal Reserve Fought to Cover Up the Details of the AIG Counterparties Bailout From the American People," and a cursory perusal indicates that this could be proverbial end for Tim Geithner...and Sarah Dahlgren is, not surprisingly, mentioned rather prominently...as is Davis Polk.
An interesting letter posted today by a reader on Jesse' s Cafe Americain caught our attention . As the reader proposes, on many occasions during the UST period of Q.E. between March and November, the Fed may have well been front-run by one or more "players" casting serious doubt on not only the integrity and propriety of the Q.E.
Thursday, March 4, 2010
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