The collision of global markets and social mood

Tuesday, February 24, 2015

Tuesday Market Update -- Yellen Vs. USD, Treasuries & Gold

Yellen 10am EDT.

Syriza submits reforms. Vows to crack down on the very citizens it promised to protect from the man. Eurogroup (the man) loves it.

ES Futures:
Flat waiting for Yellen.

S&P Outlook:
Continues its weak march higher, although if it fulfills the expected rising wedge, patience will be rewarded. Two near-term Fib targets above are 2114.42 and 2133.38.

Quiet. USD firm.

Heavy volume overnight in 5s and 10s as prices are again pressured.

Crude holds below its rising wedge trend line, NG pulls back. Neither present compelling odds at this moment. This could change quickly, however.

Gold continues to flirt with sub-1200 levels.

USD, treasuries, and gold hinting, regardless of what Yellen says, that higher rates are on the horizon.

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