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Yellen Confused But Gives Stock Bulls A Present
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March 29, 2016

Fed Chair Janet Yellen has it both ways—she continues to suggest U.S. economic growth is “solid” but says global growth is weak (China) hence, raising interest rates will be measured or slow.

This is mana for bulls which then means bulls can play and so too can other markets. Since growth is slow, even in the U.S., this is the cover the Fed has to please Wall Street, voters and bulls.

Who is she kidding?!

No matter the contrived BS bulls now can assume the recent recovery rally was well-known by insiders on Wall Street.

Now I’ll say we have some substantial positions in stocks since tape action is the discipline we must follow even as we rage against obvious dishonesty and the machine.

The assurance of lower interest rates also benefits commodities with commodities overall especially gold but not crude oil, at least this day.

Below is the heat map from Finviz reflecting those ETF market sectors moving higher (green) and falling (red). Dependent on the day green may mean leveraged inverse or red leveraged short. 

3-29-2016 3-57-09 PM

Volume was quite low Tuesday and breadth per the WSJ was positive but Money Flow didn’t participate.  

3-29-2016 3-57-44 PM

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12-17-2015 9-04-44 PM Chart of the Day

 

 

 

3-29-2016 4-05-18 PM GLD

Charts of the Day
  • SPY 5 MINUTE

    SPY 5 MINUTE

  • SPX DAILY

    SPX DAILY

  • SPX WEEKLY

    SPX WEEKLY

  • INDU DAILY

    INDU  DAILY

  • INDU WEEKLY

    INDU WEEKLY

  • RUT WEEKLY

    RUT WEEKLY

  • NDX WEEKLY

    NDX WEEKLY

  • NYMO DAILY

    NYMO DAILY

    The NYMO is a market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. When readings are +60/-60 markets are extended short-term.


     

  • NYSI DAILY

    NYSI DAILY

    The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. I believe readings of +1000/-1000 reveal markets as much extended on a  intermediate term.


     

  • VIX WEEKLY

    VIX WEEKLY

    The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation is highlighted in the chart above. The VIX measures the level of put option activity over a 30-day period. Greater buying of put options (protection) causes the index to rise.


     

Most of the important data will be delivered on Friday with the Employment Report and other manufacturing related reports.

Tuesday’s turnaround on very low volume was more impressive in points gained by weak investor participation.

Yellen’s trickeration allows her to hide U.S. economic weakness by blaming China and other weak country’s GDP. Let’s see how far this can go.

Let’s see what happens. 

...

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Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001.

Named as one of the Top 22 ETF Experts You Need To Follow on Twitter for continuing to deliver high quality analysis and commentary through the ETFDigest Twitter feed.

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Disclaimer: The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell only any security. Market sectors and related ETF's are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotation's aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com

 

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