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Welcome to a new trading week, one in which we get to enjoy one of the eight FOMC freak shows on Wednesday. As we approach the opening bell, everything is green across the board, with tech (the /NQ) being especially strong with a 1.25% gain pre-market. Since October 27th, the /ES has done little but stomp higher.
For all the times folks read about the huge gains by the youngsters over at /WSB, it’s important to remember that, most of the time, the rest of the story has yet to reveal itself. Greed begets loss.
As we await the new trading week (completed with an FOMC on Wednesday), let’s look at the latest liquidity-related charts. We start with the just-closed-this-week BTFP program by that scum-sucker Janet Yellen. These “loans” are supposed to be paid back in a year’s time. Uh-huh. Anyway, at least it won’t grow anymore. That is, until the old biddy decides to start it up afresh.
