Today marks the 100th anniversary of the formation of the Federal Reserve, thanks to then-President Woodrow Wilson. If you don’t fee celebratory, it’s understandable, considering with the Fed’s capital of $55 billion, and asset level (after five years of unprecedented stimulus) of $4 TRILLION, that’s a leverage level of 73:1…yes, you read it right!
Here’s the Dow’s chart showing the potential for all the sub-waves of the final thrust higher to be complete now. Is it done? We’ll see. But, it’s close. Tuesday is a half-day, and Wednesday the markets are closed, so the rest of the week should be thin-trading, and potentially volatile.
Crude is rolling over, and the metals still need lower lows. Otherwise, there should be little extraordinary action that has long-term meaning. Either there will be nothing extraordinary, or anything that is will have little meaning.
Notice how AAPL popped right into the 570 level we wrote about in the Monday Pre Open BOOM?
More on Thursday, unless Tuesday has something special to discuss.
Merry Christmas and Happy New Year!Tuesday Pre Open (Monday Eve) by twwadmin