Wednesday, 19 June 2013

Market's Response to Fed Tapering - Noooo!

With the Fed event over today, its time to see how the market will react to almost definite tapering this year and potentially ending of ZIRP next year - not good at all.

And tomorrow may not look great either.  Futures so far:


Index FutureFuture DateLastNet ChangeOpenHighLowTime
Dow Jones Indus. AvgSep 1314,993.00-54.0015,040.0015,040.0014,971.0023:43:02
S&P 500Sep 131,615.80-7.901,621.001,622.701,611.4023:43:30
NASDAQ 100Sep 132,944.25-12.002,952.002,952.002,939.7523:41:23

The interesting thing is that as I mentioned to a friend today, everyone knew this would happen eventually.  It was only a question of when.  And apparently nobody is ready to leave the party yet.

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