In front of yet another widely-watched FOMC announcement, forecast(s), and Chairman Bernanke presser tomorrow, the issue will center around whether The Fed will taper.
Opinions aside, it is interesting to note that the consumer staples have been quite weak of late.
Today, however, names like Kellogg, which I charted as a short idea last week, is now printing a “hammer” upside reversal candlestick on its daily chart, seen below.
Treasuries also flipped green today (TLT).
REITs and utilities are still in corrective patterns, but trying to stabilize.
Taper or no? What say you?
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In Bull Market Stage 1 “lottery fever”, the S&P can rally on otherwise bad news. Thus, a post-taper-announcement rally is not impossible.
Fair point, assuming they do taper.
That is a lawyer’s pun headline: Res Ipsa (Locquitur) Lockhart
No taper. Market pops and fades.
The market’s ready to sell the news whatever it is, although I suspect it’s no taper.
agree – the computers will initially buy the headline though.
Unfortunately , no . Yellen willl have enough on her plate trying to be Gramma
Fed for the next few months .
Besides , where are the metrics tthat the Fed clearly stated were needed before tapering .
And thus my DUST position will take another unjustified hit .
BTW ; do yuo know a single solitary individual who has added to their physical gold position in the last 6 months ? good grief
I reviewed the previous minutes and statements and I don’t think taper in DEC would be consistent with their previous statements. It depends on their definition of “stabalized” when it comes to the dual mandate and I would argue that there is not sufficient evidence of stabilization.
I am a fixer of broken endeavors, I would say taper is now needed and expected.
Yes they will taper.
This market is all hopped up on herbalife24
I say No Taper followed by a resumption of the uptrend into year end.
Can’t taper a Ponzi scheme
Agreed