Is This Why We Are Rallying Today?

Tyler Durden's picture

As we noted last week, the level that would represent the same size drop as triggered globally coordinated central bank easing in November of last year, is around 1285 and sure enough we got close (1287) in futures before today's rally began...is it really this easy?

 

or is this what we should expect?

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FlyoverCountrySchmuck's picture

TWIST, baby, twist!

the GLORY OF OBAMA must not be endangered by bad Wall Street news, at least until after election day!

gmrpeabody's picture

I think we can expect scenario #2.

francis_sawyer's picture

Quit bitching...

Every day that presents me another opportunity to STACK MORE is a good day in my estimation...

Stoploss's picture

Two bill auctions today. Auctions every day this week except Friday.

So, buy the open sell the close again??

HarryM's picture

I called it Friday - G8 + Obama = Monday Rally

They would have looked like total Bafoons otherwise.

Manthong's picture

Did you forget the FB divisor in that equation? 

vmromk's picture

I wish Bernanake would just go FUCK himself already.

DogSlime's picture

He doesn't have time - too busy fucking almost everyone on the planet (99%) whilst simultaneously felating the elite (1%).

junkyardjack's picture

He did, now his Ctrl + P keys are all sticky...

mt paul's picture

go facebook himself...

jus_lite_reading's picture

QE4 rumors swirling around... The last two weeks showed major economic global contractions and this is bullish for the ponzi stock markets 

TrainWreck1's picture

Global Easing smacks of gently dilating ones posterior.

to wit, BOHICA

Chappy's picture

So we should expect the market to go up or down from here.  Got it!

beaker's picture

Yes.  It will fluctuate, even.

junkyardjack's picture

It may move in a sideways range or it won't

francis_sawyer's picture

Heard on CNBC...

~~~

"I'd say there is about a 50-50 chance that the markets will be up or down in the next 6 months"

willien1derland's picture

I will attribute this quote to the infamous Bob Pisani

derek_vineyard's picture

pisani's opinion is that of the whoevers xxxx is in his mouth

DeadFred's picture

1285 or so is the 200 dma, the 38% fib level of the ramp from last years lows and level of the first rebound in August. It will take a good effort to go below it but there is no lack of bad news to power things lower. I'm guessing it won't happen on the first try, but what do I know.

clones2's picture

Been looking at the same thing... Looks like an early week bounce perhaps towards the 9 or 10 dma before a holiday weekend. gl

kianator's picture

Technicals are on the "floor" -- Least path of resistance is upwards until overhead resitance is meet.  Volume will likely be on the low side.  Who wants to sell or short when technicals are this oversold.  

The trend is your friend's picture

I can't make heads or tails of it.  It's harder for the shorts.  Ignorance is bliss (longs)

bigwavedave's picture

no. we go up because we cant go down everyday

EscapeKey's picture

...and the US Dollar. Is that "overbought"?

BeetleBailey's picture

No

it's undersold. Actually it's over-printed. But then, it's over-used. Then again, it's over-valued.

SmoothCoolSmoke's picture

If this push fails..... I expect panic to set in.  Sugar Longs will know they are on their own.

nobusiness's picture

Anyday an article will come out of the Wall Street Journal stating the Fed is open to more easing probably to come out of the June Meeting.  The Central planners will not allow this to continue as they view it as only costing more if they wait.  Doing the right thing and letting the free market work is not even a thought of theirs.

insanelysane's picture

At this point I don't think the Obama team is manipulating the data to get re-elected.  The bankstas are doing everything they can, to get him re-electedn because if the other side gets in there is chance that Ctrl-P becomes Ctrl-A.  Personally I believe the chance of the other side doing meaningful Ctrl-A is close to 0 but the banksters only like to take chances if someone else's money is on the line.

francis_sawyer's picture

Obama is incapable of even manipulating a penis in his mouth...

navy62802's picture

Blankfein and Dimon beg to differ.

sunaJ's picture

Yes, we can make as many S&P or Dow points as we like, I imagine.  It is a sham, but it is one that we are conditioned to fall for.  Markets are up, everything must be okay.  The rest of the world's economies will disagree as they have to contend with the consequences of easing.  One of these times, you will see a market-breaking action by one or more non-OECD central banks.

ghostzapper's picture

I continue to believe the market is still injected with an extremely high dose of QE hopium.  Spider around 1,000ish tells me people are not expecting QE.  Until then it's just a junkie crawling along the side of the road begging the dealer for more heroin. 

Cognitive Dissonance's picture

I'll put 10 large on number 2.

Come on baby, momma needs a new pair of shoes.

Temporalist's picture

Try duct tape it makes old pairs of shoes like new again.  The "new normal."

malikai's picture

Duct tape is too expensive. Try newspaper instead.

AC_Doctor's picture

Binky Ben is definately in the top 1% of hangworthy individuals destroying the US of A...

Rock the Casbah's picture

Shouldn't Au be rallying also?

ghostzapper's picture

And I believe everything ZH says about gold from a fundamental standpoint.  But, that pig looks like it has a date with 1,200ish.

ziggy59's picture

Chuck Berry should get royalties on the Benny Twist

LouisDega's picture

So should Boris Pickett and the song Monster mash. Whatever happened to the Transylvania twist is a copyrighted item

Charlie's picture

I was just thinking of loading up on shares of mining companies.

orangegeek's picture

How many more iterations of "let's pump the markets" can be played?

 

So much has to go right including a falling USD (means Euro must rise) for this to happen.

 

Elliott wave count says bearish SP500  http://bullandbearmash.com/index/sp-500/hourly/

IMACOINNUT's picture

Warning  --- the link below by SDR11 " boingboing" caused my computer to freeze up.