Fed POMO Stock Market Pump: Dave's Daily

POMO and its effects were on full display today. Pay attention to the dates where these activities will occur again and try to avoid them. The markets have never been more peculiar with manipulation, light volume, trading ranges, zero interest rates, high sector correlations and more.

It's frustrating and unproductive to be in trading ranges since they're costly.

Target's and BJ's Wholesale will be much in focus tomorrow with earnings results. And, there will be little in the way of economic data to spoil their show should they beat estimates handily.

Let's see what happens. You can follow our pithy comments on twitter and become a fan of ETF Digest on facebook.

 

Disclaimer: Among other issues the ETF Digest maintains positions in: TZA, FAZ, XLU, TIP, UDN, GLD, DGP and EPI.

 

The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security.  Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.  Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.

 

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