New Global Intervention and Our Technical Analysis Might Signal a Rest

Last week there was a huge cooperative among the world’s central banks to cut interest rates. Central Banks in the US, UK, Sweden, Eurozone, Switzerland, China, South Korea, Taiwan and Hong Kong all got involved.

It wasn’t been long before the market mostly ignored this heavy‐handed effort. And apparently the Federal Reserve didn’t have much confidence that global rate cuts would shore up investor sentiment either.