Wild day in the global markets.
First China lowered interest rates due to their slowing growth all the way down to 7%. Now what country in the world would be unhappy with a 7% growth rate? None is the answer.
What this is telling us is they really don’t have a 7% growth rate. They’ve been pumping money into their banks over the last few months, and now they lowered interest rates. What they are trying to say is there are issues in China that they aren’t going to talk about until the market figures it out.
Next up, the ECB. I’ve been pounding the table that the markets were telling us the European Central Bank was going to come to the window with a round of quantitative easing, or simply put, money printing. Today they did and the markets responded.
Check out the video below where I discuss this in detail, including how the market reacted.
Also I spend a couple of minutes explaining how the technical chart on Google was telling us there was a problem with the company. Today we learned what that issue is.
Tune in for the rest of the analysis.