After a couple hours of trading in Australia and Asia, the
ASX 200 is up +1%, the NIKK is up +1.4% and KOSPI prints marginal gains. The
cascading global rally continues as traders expect the Fed, BOJ, PBOC and ECB
to keep goosing stock markets higher with easy money.
S&P futures -1. Dow +3. Nasdaq +1. Euro 1.1367.
Dollar/yen 119.18. Pound 1.5463. Aussie dollar 0.7304. Dollar/yuan 6.3490. USD
94.56.
The US dollar index prints a death cross chart pattern
(50-day MA down through the 200-day MA) yesterday and conversely the euro is in
a golden cross pattern (50 above the 200). The patterns suggest that
[Text is Redacted: Purchase October 2015-10 to Read the Complete Chronology]
[Text is Redacted: Purchase October 2015-10 to Read the Complete Chronology]
The US Interior Department, under the cover of
Friday night darkness, announces plans to cancel all future lease sales in the
Arctic and sections of Alaska and will not renew current leases. President
Obama clearly does not want to see the oil companies pursue offshore drilling
activities in the Arctic.
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