NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Who needs technical analysis when you have Yellen dumping leveraged cash into the markets to keep them up.  The good news is that POMO gets a haircut in October so Yellen becomes less of a nuisance over time.  Reverse REPO (RRP) should drive us up tomorrow, but by the end of the week, we should close well into the red.

Click on chart to enlarge NASDAQ100 Hourly Shows Big POMO At Work – RRP Tomorrow Should Push Markets Up

NASDAQ100 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Down almost 50 points near the open and then nothing but bounce after as big POMO showed its might yet again.  No POMO tomorrow, but RRP (Reverse REPO) is on.  We expect to see markets push up early and for most of the day thanks to RRP.  Technicals show mixed with a bias to the downside, but not before Yellen takes another turn to manipulate markets up with here banking institution friends to do some Q3 window dressing.  Getting close to November US mid-term elections too – makes for interesting speculations.

Click on chart to enlarge NASDAQ100 Daily Does The POMO Dance – Good Job Yellen – REPO Likely For Tomorrow

NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

No POMO for September 30, but the Fed can also push markets up with their quarterly surprise referred to as “reverse REPO”, sometimes referred to as RRP.  We could see all time highs, but by the end of the week, we should be down sharply – unless October POMO is blown out in the first 7 days (schedule is released on September 30 at 300p).  Thanks for the gongshow Yellen.

 

Click on chart to enlarge NASDAQ100 Hourly Bounces Sharply In Finals Hours In Anticipation of Fed’s BIG POMO On Monday

NASDAQ100 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

We could see a big move up at the open on Monday (details in Weekly update), but is should fade by the end of the day.  Technicals are largely bearish at this point.  By this time next week, we should be sharply lower.

Click on chart to enlarge NASDAQ100 Daily Reverses Sharply On Lower Volume – Trend Remains Down

NASDAQ100 Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Big POMO day on Monday – this should send markets up sharply at the open, but by 1230p or thereabouts, markets should head back down.  POMO for October is down to a “mere” $15B from $25B in September.  It’s pathetic that market analysis amounts to how much the Fed is pushing into these over valued markets.  The other Fed wildcard is RRP (Reverse REPO), but this program is running out of momentum.  We are also into earnings season next week, so share buybacks may be a bullish factor too.  Most parties partaking in pushing these markets to “infinity and beyond” are either running out of cash, out of leverage or out of bonds.  October could be the month we free-fall – unless Yellen chooses to pump more liquidity.  No wonder there’s so much infighting at the Fed.  Haven’t you had enough Yellen?

Click on chart to enlarge NASDAQ100 Weekly Falls Again As Signs Of Weakness Continue To Mount
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