Scalper1 News
Major market averages fell once again but on lower volume as they test the January 6 lows. Central banks around the world indicate an acceleration of their respective QE programs and consequently lower interest rates as India’s central bank cut interest rates. Meanwhile, the Swiss National Bank ended a program to support the Euro vs. the Swiss Franc as the Swiss are losing confidence in the Euro. To wit, the Euro has been given a limited lifetime by various analysts of anywhere between 6 months to 6 years. A rip-tide market has emerged with expectations of additional quantitative easing pushing the market higher while the economic global troubles, plummeting oil prices, and lack of confidence in the Fed push the market lower. Where the selling ends is anyone’s guess, but the indexes appear set for a possible test of their 200-day moving averages as the Market Direction Model remains on its sell signal. Futures are currently trading lower. Scalper1 News
Scalper1 News