To Ease or not to Ease, that is the question
Tomorrow is the big enchilada. Here are the scores going into the announcement of whether or not the Fed will continue easing measures:
The new-ish total score has rebounded to well overbought levels. Previous tops have peaked out around 900. This one is not quite there, however, one of my indicators that goes into the calculation of the RumWave score fell off a cliff today, reducing the overall score.
Above is the scoring system zoomed way out. The Daily score (2nd down) and 4 hr score (3rd down) are the highest they have been since I started this tracking system in June.
And just for fun, the chart above shows some bearish divergences on the DJIA 1 hr chart.
Almost every news analyst is 100% convinced that the Fed will announce some kind for easing tomorrow. I'm not so convinced, but hey, I'm just a fighter pilot with a knack for predicting market moves so I'll defer to the 1000 lb brains and their high priced degrees on that one. The stimulus could range from full blown bond buying (aka printing money) or a simple announcement of their intent to keep interest rates low until the year 20XX. I suspect the market may find a way to be disappointed by the announcement.
GOOD LUCK EVERYONE!