ES 1 Hour - High Arrived on Time / 100 -125 BIPs Hike
After yesterday's 8:30 Stop run (Missed the FIll for SELL) the retracement was exceedingly weak.
The Range expanded significantly with 3812 unable to Hold a Key Weekly Pivot.
3506 remains wide open on the Daily, breaking 3588 now becomes a very serious problem ahead
EPS.
There has been another VIX disconnect to Price as ROll Over began yesterday for M1.
PCC - entirely out of whack.
____________________________________________________________________________________
The Fed Fund Futures is now pricing in a 250-275 now 86.9%.
www.cmegroup.com/tra...untdown-to-fomc.html
100 Bips minimum for the July FOMC, with 125 Bips Possible now.
I warned the FED would raise more than 75 weeks ago, IMHO the Futures back this up after a
Hot CPI.
BOA Reduces S&P Year end from 4500 to 3600.
______________________________________________________________________________________
LOOK OUT BELOW
The Range expanded significantly with 3812 unable to Hold a Key Weekly Pivot.
3506 remains wide open on the Daily, breaking 3588 now becomes a very serious problem ahead
EPS.
There has been another VIX disconnect to Price as ROll Over began yesterday for M1.
PCC - entirely out of whack.
____________________________________________________________________________________
The Fed Fund Futures is now pricing in a 250-275 now 86.9%.
www.cmegroup.com/tra...untdown-to-fomc.html
100 Bips minimum for the July FOMC, with 125 Bips Possible now.
I warned the FED would raise more than 75 weeks ago, IMHO the Futures back this up after a
Hot CPI.
BOA Reduces S&P Year end from 4500 to 3600.
______________________________________________________________________________________
LOOK OUT BELOW
Comment:
Bloomberg has now moved on to pimping Indirect Demand for USTs.... pathetic.
Comment:
4 / 8 Week will fail again - www.treasurydirect.g...s_auctionresults.htm
Comment:
4% then 6% ahead, prepare for disloactions.
Comment:
FED DRAINS $43 Billion