If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Wednesday, February 10, 2016

Daily update 2/10 Thoughts from Axel Merck on the FED

No save from Yellen.

The market gapped up this morning on strength in Europe.  However, not even Yellen could keep it positive.  Sellers were relentless in hitting the bids.  Around 10:30 the breadth was +79%, but by the end of the day it was only +51%.  Nothing positive going on yet.

The futures are still consolidating just above support.  This still looks like it wants to go lower to me.

This market looks extremely heavy.  The trends are all down.  A full test of the Jan. low still looks like the higher odds scenario.  If that happens we will have to see how the market reacts.  Until the bulls demonstrate the ability to hold on to a rally there is not much to talk about on the upside.

Here are some interesting thoughts on the FED.  Clueless Fed?!


No comments:


The information in this blog is provided for educational purposes only and is not to be construed as investment advice.