Home > Uncategorized > ROHR: Brief Update 2009/11/24: Slightly Positive Pressurized Data Better for Bonds than Equities So Far

ROHR: Brief Update 2009/11/24: Slightly Positive Pressurized Data Better for Bonds than Equities So Far

▪  While economic data so far in a very pressurized week has been slightly to the positive side, the proof will be in the equity market pudding when is all said and done tomorrow.  That is due to a dual consideration that equities are up against far more significant technical decision thresholds than either the fixed income or even the foreign exchange, and an accelerated reporting schedule with no US economic releases after tomorrow, and (noted in yesterday’s Weekly Overview) very little elsewhere. The real decisions await the important news later this morning and FOMC meeting minutes this afternoon, along with further important US economic and housing numbers tomorrow (see yesterday’s analysis http://bit.ly/6FhQ6l.)   The risks are all part of the question of whether DJIA can push through the 10,500 Tolerance of major 10,300-350 resistance, and December S&P 500 future finish the week above 1,102-08 major downside Gap from last October’s failure.  All of which has that much more import in light of other asset class decisions, such as whether December T-note surmounts its 119-16/120-00 resistance (with similar levels apparent in Europe), and US Dollar Index holds no worse than the .7500 area.  While some fear a form of ‘Dollar Crisis’ related back to the activity in Gold, its strength is out of all proportion to relative US dollar weakness against other currencies.

It is more so reinforcement for the suspicion that extensive liquidity operations engaged in by all fiat currency issuers will not end well. What we know for certain right now is…

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