I expect U.S Equities to roll over here and continue on their way down.
Perhaps some imagine that Yellen will have something to say this morning to “once again” pull markets back from the impending sell off – but I don’t.
If anything I would more so envision the “opposite” as….if there is anything Yellen “needs to say” it’s something to save the U.S Dollar from falling much further.
This is very thin ice USD is walking on down here…very thin as the rest of the planet really won’t stand to see this thing ( and their billions of useless USD toilet paper stacked in reserve ) go down much further.
the opposite effect of this falling dollar has been “killing the EU Zone” with a rising EUR as well the U.K, New Zealand etc – all getting a little fed up with seeing their own currencies “flying higher” ( and killing export opportunities ) while the U.S devaluation continues.
And don’t kid yourself…the “QE” hasn’t changed in the slightest as it’s only a couple of numbers typed on a computer ( the tapering whatever ) with no “actual real world application”.
A couple of numbers on a couple of screens at the U.S Fed and Treasury Dept to keep the media spin going. That’s it .
Perhaps a “tiny hint” that interest rates may rise sooner than later will do it….but then again The Fed “just told you” that won’t happen. Or was it the week before they said it “might”?
Or not? The Fed “loves” a lower dollar…it’s everyone else that doesn’t.
These people are literally “winging it” here day-to-day in a continued effort to rid you of your cash.
I’m tuning in to watch.