Achtung!

Oversold bounce time. Seeing some indicators registering some extreme lows, at least on a VERY short-term basis (can swing from extremes rather quickly). Will chart later. Today is the FOC-ME FOMC meeting and it's a coin toss as to what 'Tanke is going to say. There is a 100% chance that what he says is a lie, unless he confesses things aren't on the "up and up". I expect the groundwork to start being laid now for further stimulus. The arm-twisting will likely come in the form of a shock-and-awe campaign.

Target 1: 912-918

Target 2: 930

We here at Thurgy & Thurgy Capital Partners would like to remind everyone that there is still the outside chance of the SLP shark attack. The senior analyst (and bottle washer) here has downgraded this scenario from Probable to Plausible (BBBB+) with negative implications, citing widespread wilting of green shoots as the cause. However, it is window dressing (end of quarter) time which will likely bring some level of demand for equities by the underperformers and the Johnny-come-lately.

Failing to get above the pivot at 912 and the indices will probably fall off like a prom dress. If that's the case then 845-855 would be the next point of interest with 877 serving as support. Getting above 912 and I pause on the short side to see how Target 2 holds up as resistance.