Emini Trading Update – Monday 30 Jan 2012 (12:43)
Sold off Sunday evening into the first 30 minutes of Monday – then spent the rest of the day rallying. We’ve gotten back to Friday’s levels, but it’s pretty weak. For me the next level down is support on the 135 minute chart – somewhere below today’s Low and above 1,265. We’ll see.
Link of the day …
Great stats from Jim Bianco on The Big Picture about QE around the world.
I had no idea the German, French and European Central Banks were so active in QE. It makes what the Fed and BofE are doing look “normal” – but at least they are open about what they are doing. The Europeans are doing it covertly.
I can tell you, having spent 3 months in France at the end of last year, there was no talk about what the French Central Bank was doing – absolutely NONE.
QE used to be called the “nuclear” option. Today it looks as ordinary as a trip to the mall. Except we’re all living in a Jurassic Park experiment.
Good luck with your Emini trading.