20DMF

[Pascal]

We are in a range day today, quietly waiting for an official political agreement to do nothing, so that the market can slowly walk higher on a POMO support.



Pascal

17479

[Billy]

Nothing exceptional to expect from today's POMO size compared to yesterday's very large one.

17481

Much will depend on the new schedule to be released at 2:00 pm. http://www.newyorkfed.org/markets/tot_operation_schedule.html

17480

Small caps IWM's RS trend is still negative. That's the line to watch after 2:00 pm.
Billy

[Billy]

Very small POMO sizes tomorrow and Monday.
http://www.newyorkfed.org/markets/tot_operation_schedule.html

IWM is hesitating at key pivot confluence/resistance. Porosity is hard to gauge in the current political stress and end-of-month window dressing.

17482
17483

Billy

[Pascal]

Impressive close! If you did not have a short position before that, it would have been impossible to get the swift last minute down move.


Pascal

17484