POMO ramp-up

[Pascal]

We clearly have fresh liquidity pushing markets higher (from the day's lows.)

Of course, tomorrow will not be a POMO day.

The 20DMF RT pointed to a positive divergence in the afternoon.

As for the GDX Money Flow, it is now firmly in overbought territory.
A sell/short signal will be issued when we cross back through that OB level.


Pascal

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[adam ali]

It may be more than just POMO buying, Pascal.

From Doug Kass:

High above the Alps my Gnome is hearing that Merkel has made a verbal Eurowide bank deposit guarantee

This is a RUMOR, everyone, so caveat emptor.

[KevinKT]

3:18 PM Taking questions after a speech, the usually hawkish Minneapolis Fed chief Kocherlakota says a fall off the so-called fiscal cliff would argue for additional QE. The "fiscal cliff" refers to the 2013 expiration of tax cuts and other benefits that some argue could throw the U.S. into recession. [U.S. Economy] 10 Comments