Draghi FUBAR

Draghi has really done it this time. I have been saying that this crisis is a lack of faith in central banks ability to be the cure-all that they think they are. There is no better example than what happened post ECB announcement. He really screwed the pooch on this one.

The picture in this article says it all-
ECB's Draghi plays his last card to stave off deflation
"The ECB cut the deposit rate by 10 basis points to a historic low of -0.4pc and stepped up the pace of quantitative easing (QE) from €60bn to €80bn a month. It buttressed the effect with unlimited four-year loans to banks at near-zero cost, hoping this will limit the damaging side-effects of negative rates for banks." (source: The Telegraph Business
 

 

Bund broke through support

 DAX weekly sold off

 EUR daily spiked hard

$USD cratered

 

I smashed $EURCAD short ahead of the meeting and then got out before announcement. Went long after the announcement on mean reversion back towards kijun sen.

 Gold daily spiked off support

Oil weekly just holding under falt kijun resistance.

 SPX 4hr directionless

10yr yield still ticking higher as rate rise hopes persist

VTI weekly looking to see if this is a lower low. Very good chart due to fact that it is a total market fund.