Not Poised to Rally

By -

Well, the Federal Reserve has sped up the pace at which the United States will meet its ultimate ruin by pledging $85 billion of new cash a MONTH with no end in sight (except for a very-far-off unemployment goal that may never been reached). In spite of this utterly naked gift to investment bankers and stocks the world over, the NQ, as I'm typing this, is unchanged, and looking at the chart of the QQQ, it seems to me it isn't exactly postioned for an explosive rally.

We'll see if Cap'n Beard gooses anything with his press conference, but seriously, this is a vulnerable looking chart.


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