Disappearing volume points to a lack of public participation. There is only one buyer as I have said and he is not playing here.
No real buying here.
The real buying is made to order support here. By the way that is real selling after the FOMC meeting, the sellers stuffed the canned buying applause. 1 is a real buying climax and real selling as is the sell-off and potential downtrend into the close.
The only change in what the Fomc said directly concerns our theme here. What happens when the one buyer runs out of funding. "the Federal Reserve is in the process of buying $300 billion of Treasury securities. To promote a smooth transition in markets as these purchases of Treasury securities are completed, the Committee has decided to gradually slow the pace of these transactions and anticipates that the full amount will be purchased by the end of October." Before it was by the middle of September. And the dollar limit is not as clear. Remember the fed buys securities from a broker-dealer creating permanent reserves. Those are multiplied 10x in loans to hedge funds etc; which are leveraged 10-50x in derivatives etc: I believe about 280 billion has been spent.
Now we must see what we can see in the charts.
