The red lines show negative divergence now in place for the weekly chart with the exception of the MACD line that would like to see another matching price high after a pull back. Negative divergence is also in place across the one-year time frame now which is bearish. The blue circles and line shows the QE2 (quantitative easing) launch and with Chairman Bernanke's verbal pumps let's simply call the blue line the Fed's QE. Note how it topped and ran out of gas a year ago. Last year as price started to slip away late summer again, the ECB released its LTRO1 and LTRO2 QE so call the teal line the ECB QE. The LTRO2 announcement a couple weeks ago does not have any juice, since it was announced that the LTRO2 would occur when LTRO1 was announced. When LTRO2 was announced, traders waited to hear about LTRO3 but all they heard were crickets so it appears a lot of the ECB juice is priced in. Projection is lower numbers moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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