Quick Market Update: High and Tight

This chart (taken intraday today), shows some very tight, low-volume action above a moving average that has not held for a long time. This comes after the gap up of a few days ago, which is also still holding.

We really could break either way here, but this action, combined with multiple other signs of decreased fear and flight-to-quality (risk assets and gold are up, spreads are down) and ability to hold on “bad news” (Jobless claims jump to 573,000, a 26-year high), is interesting.  The Fed is printing massive amounts of money.  It’s going to go somewhere (eventually).  Cheers!

AddThis Social Bookmark Button AddThis Feed Button
Subscribe to this blog via RSS or email.
Check out the latest BuzPal t-shirts here!

2 thoughts on “Quick Market Update: High and Tight

Comments are closed.