I am getting a bit confused now, GDP q on q has shrank so is Yellen's urgency of rate hike getting more or less urgent from the dropping of a few key words from the FOMC? US stock indices formed that daily head shoulder pattern with the right shoulder high held on the next swing back. Not your conventional H&S pattern so watching to see if the low will break next week. 3 lower high but look less significant on the weekly chart. The pattern says rate hike coming so which is it? Rate hike expected so indices dropping or just a case of more deflationary pressures so chances of QE4 is more imminent?
