What happens when the market doesn't get its free money?
Look at the dates...
Fed POMO (permanent open market operations) goes until Feb 9th then starts again today. What happened yesterday when the Dow didn't get its POMO?
There was no POMO yesterday AND....
Schedule starts again today and market continues the meltup.
Bottom line: The Fed can't monetize forever. What happens down the line when the market has to ween itself off of POMO? No one knows, but it won't be pretty.
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