Home > Uncategorized > 2012/09/12: Quick Post: Courtesy Market Alert: German Court swing tees it up for Bernanke

2012/09/12: Quick Post: Courtesy Market Alert: German Court swing tees it up for Bernanke

© 2012 ROHR International, Inc. All International rights reserved.

Short & Sweet again on the specific market comments in this post, because today’s TrendView Market Alert is a pointed discussion of some significant trend levels seen in the wake of the Germ High Court (partial) approval of participation in the European Stability Mechanism (ESM.) As we have noted in previous posts, we feel QE is the Opiate of the Perma-Bulls. We will have more for you on that soon.

However, in the meantime it would seem that whatever Mr. Bernanke has to say on Thursday must be respected as a potential short term influence on the markets. And that is in spite of the far greater influence which will come back into focus on economic data after he is done. What we now curiously see is that even QE proponents allow that it will not do much to improve the US economy. Even they admit this is not a liquidity crunch or high interest rate round of economic weakness, and the impact of further quantitative easing is problematic at best.



And of course, we should pay especial attention to what Chairman Bernanke does on QE, and not just the earlier projections. That said, it makes for a potentially wild day, due to some folks likely taking the same sort of inferences from the earlier release of the revised FOMC economic projections as they did from the weaker than expected US Employment report last Friday. All in all it is also very important to watch the actual market response from the key levels that were teed up by the German Court ruling today.

That will mean especially the December Bund future at 139.34, the September S&P 500 future into the 1,440.70 area (with a Tolerance all the way up at 1,445), and the EUR/USD test of the 1.2950-1.3000 area. All explored at greater length in this morning’s Market Alert. Enjoy the read, and as always…

Thanks for your interest.


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