Anyone scalping the FTSE Futures??

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Mornin folks 🇬🇧 🇬🇧 🇬🇧 🇬🇧 🤪 🤪 🤪 🤣 🤣 🤩 🤪👍😁

 

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Updated

 

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If i hear the word"Manipulation" you will be thrown off the thread

 

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Dont say the "M" word

 

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Some sanity

 

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Dax close up

 

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No real downtrend established...As yet

 

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[postman]

Unless JPow says interest rates will remain at zero for the next 50 years I think the markets will be disappointed.
Still, he may just do it.

 

[postman]

View attachment 286766

Dax did that yesterday and mooned into the close.

 

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Dax did that yesterday and mooned into the close.

Poss trend break looming

 

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U.S.A. - Powell speaks at virtual Jackson Hole meeting **
- A noted in the week ahead, Powell open this year's meeting with a speech on the Fed's policy framework review. which will doubtless wax lyrical about allowing overshoots on both inflation and employment targets, above all after protracted undershoots - in other words applying a longer run average to its inflation target. To be sure, markets will like and react postively to any talk about allowing such overshoots, 'whatever it takes' and allowing the economy to 'run hot', even if any mention of the current economic outlook will hardly be upbeat (even arch hawk Esther George talked about 'double dip recession risks rising' yesterday!). Frankly this misses the key point: the Fed's key policy metric is 'financial conditions' and it has been for more than 5 years, inflation and jobs metrics are little more than 'lipstick on a pig', or rhetorical roadkill. Unfortunately the metrics for tight and loose 'financial conditions' are all market based metrics, and are thus primarily about market volatility, and have precisely nothing to do with credit availability on 'Main Street' (as is the case with other G7 central banks). It effectively applies an asymmetric bias to policy, and makes tightening policy very difficult, and even easing back on stimulus measures. This is a trap of central banks' own making, and this has led us down the path to 'outright monetary financing', even if that is denied by central banks, who totemize 'financial stability' as a (or rather 'the') justification for their actions, whereby financial stability really means that nothing of any size within the financial sector can be allowed to fail - in other words a quasi permafrost of zombification. This in turn appeases the Pavlovian, and yet also inordinately financial repressed spirits of financial markets, building an ever big chasm between their performance and economic reality, which at some point (not necessarily soon) be narrowed.

From Marc Ostwald

 

[postman]

U.S.A. - Powell speaks at virtual Jackson Hole meeting **
- A noted in the week ahead, Powell open this year's meeting with a speech on the Fed's policy framework review. which will doubtless wax lyrical about allowing overshoots on both inflation and employment targets, above all after protracted undershoots - in other words applying a longer run average to its inflation target. To be sure, markets will like and react postively to any talk about allowing such overshoots, 'whatever it takes' and allowing the economy to 'run hot', even if any mention of the current economic outlook will hardly be upbeat (even arch hawk Esther George talked about 'double dip recession risks rising' yesterday!). Frankly this misses the key point: the Fed's key policy metric is 'financial conditions' and it has been for more than 5 years, inflation and jobs metrics are little more than 'lipstick on a pig', or rhetorical roadkill. Unfortunately the metrics for tight and loose 'financial conditions' are all market based metrics, and are thus primarily about market volatility, and have precisely nothing to do with credit availability on 'Main Street' (as is the case with other G7 central banks). It effectively applies an asymmetric bias to policy, and makes tightening policy very difficult, and even easing back on stimulus measures. This is a trap of central banks' own making, and this has led us down the path to 'outright monetary financing', even if that is denied by central banks, who totemize 'financial stability' as a (or rather 'the') justification for their actions, whereby financial stability really means that nothing of any size within the financial sector can be allowed to fail - in other words a quasi permafrost of zombification. This in turn appeases the Pavlovian, and yet also inordinately financial repressed spirits of financial markets, building an ever big chasm between their performance and economic reality, which at some point (not necessarily soon) be narrowed.

From Marc Ostwald

Thats a pretty long winded way of saying the markets are manip... oh sorry.