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Price Action Setups for Fed, BoJ (Webinar)

Price Action Setups for Fed, BoJ (Webinar)

James Stanley, Senior Strategist

Talking Points:

- The center-piece of the webinar was Oil and follow-up to report published by Christopher Vecchio and I, looking at how panic is taking over Oil prices. We’re hosting a special webinar on this topic, free for anyone to attend and ask us questions, on Friday at 9:00 AM ET. To register, please complete the information on the following page.

- Equity markets have seen a brisk reversal in the early portion of trading, and we looked at the price action of these moves to get an idea as to whether or not this was a legitimate reversal or a short-cover rally.

- Last week’s ECB meeting appears to have provided temporary support to the S&P and the DAX; but with lower-lows and lower-highs showing, how long might this relief last?

- The Bank of Japan meeting later in the week could carry the same type of impact on risk aversion, and that can be seen in Yen weakness ahead of the announcement. It appears as though some traders are placing bets that the BoJ may increase or extend QE. If the BoJ doesn’t make a move on QE, we may see risk aversion in global stocks come right back. If they do make a move, they run the risk of an even bigger problem down-the-road.

- The Fed meets tomorrow, and will likely proffer some dovish language to pacify risk-aversion tendencies currently being seen in global markets. This would be a continuation in the pattern that they’ve shown, in which they attempt to offset capital market weakness with dovish commentary and indications of support.

--- Written by James Stanley, Analyst for DailyFX.com

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