Abet Chichi2

[chichi2]

McClellan Oscillator and Summation Charts by Chichi2**

I was watching Crude Oil very closely today as i was trading DUG buying it in the pre-market. Crude moved up but very slowly and sort of slowed to stop around 10am.

However, at 10am a phenom that we watch but most traders do not, was completed; per Bob3's post, the Fed Open Mrkt Operations completed pumping 18.25 Billion into the market, and the General Mrkts Indices took off, big time...

Many gave Crude Oil credit for the Indices Major Move, but if one was watching the overall action, it was obvious that the Fed made its move and then the major move in Crude Oil prices occurred. The Fed did it, again.

Yesterday i said, "It does not seem there is anything to stop the Down move..." I had forgotten the Fed. Tomorrow, the Fed can do with us as they wish, too hard to predict.

Yesterday i said, "the MCO's went Dn and took the Major Indices with them." Today, we can say, "The Fed Led, the Major Indices followed, and the MCO's followed them, Up"

So where will the Fed Lead tomorrow? The MCO's do have more room up, and SPX can get to 50% retrace at 1300 if the Fed wants it too.

MCO small changes are circled on my charts.
Summation charts also included. Also Decision Pt charts.
Click here for several McClellan Oscillator and Summation Charts
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