10/09/17

Dangerous Markets - Signs, Signs, Eveywhere A Sign



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Dangerous Markets - Signs, Signs, Eveywhere A Sign
// Zero Hedge

Authored by Lance Roberts via RealInvestmentAdvice.com,

Last week, I noted:

"I have a sneaky suspicion that when I update the Fed Balance Sheet reinvestment analysis next week, shown below, we are going to find a substantial, well-timed, reinvestment by the Central Bank. Wanna bet?"

Well, here is the updated chart of the 4-week net change to the Fed's balance sheet. As you can see, reinvestments have, once again, returned to the market in a very "timely" fashion. Of course, since the Fed claims they are not trying to, nor are they influenced by, the markets, this is purely coincidental. (#SarcasmAlert)

The good news this week is that the market maintained last week's advance despite the one-day tantrum earlier this week. Interestingly, since the election, the market has ratcheted higher in slightly more than 3% increments with each move higher followed by a drawn-out consolidation process that runs primarily along the 50-75 dma. The last sell-off tested, and held, the 100-dma but stayed within the confines of the ...

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