Stock Market Technical Anaysis Blog
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Wayne! Wake up! They turned off the tractor program!
What? No way Garth! Oh, crap, well they'd better just turn it back on!
In the market today we saw the powerful tractor program, that had been clamped down on the market since the first trading day of the new year, suddenly turned off. There were plenty of cut and paste headlines offered up saying it is because investors suddenly realized that earnings would be in the toilet if not for the parade of downward guidance taking place right now.
Standing back and looking at the big picture for the moment we all know that when Fed chiefs make their exit it is a little embarrassing to do so while they've got the market locked down to keep it from falling. It's just about as classy as leaving the restroom with toilet paper on your shoe, just doesn't look good. Maybe after today's selloff we might see Yellen's opening volley tractor program turned on a little early.
Trade well my friends
Alan
