Markets To Yellen: 'Mother May I?'
Ryan Mallory | Aug 24, 2016 03:40PM ET
It has come to this: the market can only move up or down when Janet Yellen gives her permission. Whether it's a speech, minutes, FOMC statement or one of her minions on the prowl, the market refuses to acknowledge anything else.
Just days ahead of Jackson Hole and the market simply refuses to move. Instead of whole percentages, we're talking fraction-point moves.
To those looking for a trend higher or lower, forget about it.
The SharePlanner Reversal Indicator below shows a bearish reversal, but as we have often seen, the market is only interested in correcting through time and not price. Perhaps when Yellen brings forth her good news on Friday, the market will break from its malaise and move forward with some purpose.
h3 The Reversal Indicator/h3
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.