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Pascal
02-28-2013, 11:40 AM
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

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Billy
02-28-2013, 11:58 AM
Nothing exceptional to expect from today's POMO size compared to yesterday's very large one.

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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
02-28-2013, 02:36 PM
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.

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Billy

Pascal
02-28-2013, 04:08 PM
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

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