The FOMC EOW as of 11/6/2009 - update

Astonishing to see bad economic news is used as excuses to bankrupt the United States, as the Fed did with major European countries. The FED tactics is quite simple as it bubbles up financial markets, then, crush economy to use debts with excuses of stimulating economy. The enslaving nations around the world tactic has worked for decades as we can see that 1% owning over 98% global wealth -- astonishing. Only God can deliver us from the inevitable doom as in Revelation.

Capitalist activities around the world bankrupting nations.

http://trend-signals.blogspot.com/2009/10/capitalist-robbing-nations-around-world.html

With the FOMC meeting, markets advanced after finding a support at SPX 1030. We now have overbought intraday 60min. Given the market psychology, we still do not have a confirmation for a correction. As shown on the 60min chart, 1075 +/- is a major resistance for a correction scenario.

Markets are continuing to trade against bearish sentiment using it for price advancement. As shown on the SPX daily chart, we have lower-high price action, so far, with daily price momentum is turning up while weekly price momentum is turning down. Given 7-8 months price advance, it is reasonable to expect a correction. Going into holiday trading and dealing with bad sentiment, I am not expecting much from markets going into EOY.

• Sweeping Health Care Overhaul Bill Passes House
• For the Jobless, 10% is Harder Than Before
• Week Ahead: Stocks Search for Catalyst in Quiet Week
• Outlook: Dollar Likely to Ride Higher on Bleak Jobs Report
• Geithner: More Stimulus, Not a Bank Tax
• Windfall is Seen as Bank Bonuses are Paid in Stock
• Volatility Returns: Sign of the Bull Losing Muscle?
• Cramer: Earnings, IPOs Dominate Next Week

• Buying Fear: How to Own Volatility

• Administration Rejects Plan to Buy Fannie Mae Credits

With the FOMC week, markets have advanced 3% for the week.

$COMPX 2112.44 7.12 0.34% 1,830,782
$INDU 10023.42 17.46 0.17% 1,086,581
$INX 1069.30 2.67 0.25%


Markets will likely drag into the holiday tradings for the next several weeks going into EOY.

The FED and Obama is continuing to paint rosy pictures with markets using pathetic economic reality as excuses.

While all other signs are dire, financial markets are using all bad news as excuse to hype markets.

• http://www.chicagotribune.com/business/chi-091026-bankers-protests-photos,0,4049876.photogallery
  
  American Bankers Association protests
  This week, hundreds of protesters are gathering in Chicago to demonstrate at the American Bankers Association's annual meeting. The protesters are calling on banks that received billions in federal bailout money to help consumers who have fallen victim to bad loan practices and are losing their homes to foreclosure.
• With the protest at Chicago, the Fed Bernanke again pumped markets after the FOMC, obviously.

With the financial, economic, and political drama, the financial gain using global markets is astonishing. No wonder that 1% owns over 98% of global wealth using market volatility to upside and downside. With 3x etf and option, the gain would be astonishing with complete market control.