Submitted by Lance Roberts via RealInvestmentAdvice.com,
At the beginning of this year, I began discussing the technical weakness that was emerging in the markets. Since that time, the markets have remained under pressure leading to a continued cautious portfolio stance.
Submitted by Pater Tenebrarum via Acting-Man.com,
A Whiff of Panic
Ahead of Thursday’s ECB meeting, there was a widespread consensus that Europe’s chief printing press supervisor would make up for the alleged “mistake” of under-delivering on monetary lunacy last time around. Therefore, a sizable dose of fresh absurdities had to be expected, with only small disagreements on the details. It is fair to say the man didn’t disappoint.
Draghobert the Terrible, trying to assault the euro again
It’s debatable whether or not the most recent move of the European Central Bank was unexpected, but it certainly sparks a lively discussion on the open market. Not only did the ECB reduce the lending rate on the refinancing facilities from 0.05% to 0% which basically means the banks that are part of the Eurosystem can borrow money for free, it also reduced the interest rate on the deposit facility by 0.10% to a negative 0.40%. Yes, -0.40%.
Source: Bloomberg.com
Via NorthmanTrader.com,
We have arrived. The moment of truth. If you have followed my writings you know I’ve been talking about the January gap fill and major MA reconnects to come for quite some time. No matter whether you believe this to be a bull market ready to re-assert itself or you view the recent rally in the context of a bear market about to unfold you must acknowledge the pivotal nature of where the market now finds itself in the days ahead.
Submitted by Alexander Grover
Current Situation