EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
What's a Cycle Completing Trade?
Before I mention complete-the-cycle trade, I need to address Powell & the Fed. Seeing Fed chair Powell speaking today on a panel next to Ben Bernanke struck me how much more transparency, communication, forward guidance and all sort of other means of reaching out to the public has emerged from the Federal Reserve, compared to the Bernanke days nearly a decade ago. But even with the improved communication and policy tools (forward guidance helped lift yields before the start of rate hikes), the Fed remains in the dark and with reduced firepower. Here's why and how.
Powell highlighted today the challenges of monetary policy in terms of tools and outlook, pointing to the banking turmoil along with the effects of the sharpest monetary tightening in the history of the Fed and the threat of sticky inflation. Not to mention an unmovable debt ceiling in the face of staunch congressional dissent (even more than during the 2011 budget standoff).
21-yr Intermarket Charts - 7 indices 11 currencies 14 commodities
Interactive charting by instrument, chronological and alphabetical order. This enables organizing each individual commodity, currency or equity index' performance by magnitude or chronological order.
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But I was too tired to really tally it with my charts. I think I will post your concern and comment on his site.
Ashraf
Watch this chart!!!!!
Tell what will happen next?
-When the Dow fell below the 200-day moving average;
-After the Dow closed above the 50-day moving average
-When the Dow hit a new low for the year.
-The break below the June 8 low of 9757 (confirming a head-and-shoulders pattern)
read more
http://www.ritholtz.com/blog/2010/07/kilgore-beware-technical-trap-lower-lows/
http://www.washingtonpost.com/wp-dyn/content/graphic/2010/07/14/GR2010071403101.html
by Peter Boockvar
Within the minutes of the June FOMC meeting where they reviewed the economic stats seen since the prior meeting, they believed looking forward that the recovery in economic activity would be moderate thru 2011, supported by accommodative monetary policy, an attenuation of financial stress, and strengthening consumer and business confidence. They did say that the pace of recovery will be somewhat slower than previously predicted and they also reduced their expectations for both headline and core inflation slightly. Some members wanted to consider whether further policy stimulus might become appropriate if the outlook were to worsen appreciably. In terms of helping the economy, I believe their gun is out of real bullets and all they got left is water. They have reached the law of diminishing returns and Fed impotence is a growing risk
http://www.economy.com/dismal/map/default.asp
http://www.youtube.com/watch?v=ct4BxPxRBO0
the cuddle report.