In my prior note I showed a chart I was watching to the exclusion of all else to gain insight as to where this “market’s” next move may signal. So with that in mind, here is a close up view of the same cart only via 15 minute intervals as ~12:15pm ET on this Wednesday….
There’s been a lot I could say about the recent news and moves concerning these “markets.” However, I’ve really been lax in stating any of it as for reasons I’ve posted prior. i.e., If the “market” keeps going up, as my great-grandmother would say, “No one gives a horse’s patoot.” Plain and simple, so why…
I have been calling attention to the Fed’s Overnight Reverse Repo Operation for years, saying: The closer the Fed allows this to get to zero – the more dramatic the sudden liquidity crisis it compels will explode. And for those same years – it’s been all to deaf ears. Why? Easy – nothing had happened…
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