Major averages jumped higher on substantial volume after the Bank of Japan said it would increase the pace of its quantitative easing program by 60%. With central banks continuing their mass money printing programs, the US market which is leading the way in terms of price performance should continue to reap benefits as this increases the odds the Fed will start up a QE4 program in the near future. That said, MDM is also aware that a potential correction beyond -10% could occur as happened within weeks after QE1 and QE2 ended, though for now, the uptrend appears intact.
MLR - PMP 11/3/14
| Published: | 3 Nov 2014 13:24 ET |
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