morning friends. futures up very slightly the market is digesting the election news but also has a wild day in front of us. Expect some muted action as people are digesting earnigns, election results but most importatnly we have the most important fed day in a while.
right now everyone is positioning themselves for the fed.  In my view this is a gamble and will be complete luck if you nail it. The reaction the fed news is what is key what happens after.  Beware often on fed days the market will run a particular way after the release then reverse once its all digested and people read the fine print.
the fed is due to release at 2:15 today the details of their QE2.  which essentially means the federal reserve will be digitally printing vasts sums of money and then purchasing select assets namely U.S. government bonds (aka our debt)  when demand for u.s. govt bonds increases it effectively lowers the interest rate which affects the interest rate on everything the consumer to the producer has on products, services, loans etc.   the whisper number is 500-600billion. anything less and there will be some mayhem. anything more and the market might rocket but hten tumble as it would mean that the world is fu%@#$.
please remmber this qe news and the election news was the 2 big things really on the economic/news level that was propelling the market. Now those 2 things will be out after today at 2:15. oNLY THing we got left is POMO. so we will need some new catalysts going forward. Beware of a sell on the news event (i am personlaly not thinking that happens as everyone is expecting it)



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