Draghi didn't do anything. So it's all about his press conference . . . all about his words now.
. . . may undertake open market operations . . .
. . . of adequate size . . .
. . . will design appropriate modalities . . .
. . . further non-standard policy measures . . .
What a bunch of crap. I'm not writing about this twirp anymore.
The Aussie dollar promptly reversed on a 15 minute chart in a big way. S&P futures tanked. This was not what bulls wanted to see or hear.
As to what this all may mean in the regular session, getting below 1360 would cloud the issue for another new high. But since this may be a day for the market to really show its hand, I'm not going to worry about it. The bottom line number is 1329.24 -- below that the S&P is toast. Until that happens, I still feel -- and am on guard for -- 1395.
Markets dwarf politicians and central bankers. I am only focused on the numbers and levels and the wave structure. All else -- especially "communications tools" -- is noise.
Lastly, this is from Zero Hedge this morning. Hilarious.
What's wrong with this headline: Obama authorizes secret support for Syrian rebels (Reuters)
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