Thursday at 10 am ET, there would be a House Financial Services subcommittee no the issue of Mark to Market Accounting FASB 157.
However a resolution may not be forth coming, but a clue may ensue, that would show the light.
The FASB 157 was effective Nov 2007, hence the market peak before it. Hence it makes sense that if FASB is to be temporarily suspended, then the market would bottom before it. Or if FASB is to be suspended effective 1 April, and the Uptick Rule to be reinstated in April, we would expect the market to rocket ahead, especially has it has been oversold.
There would be massive short coverings.
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I use TD indicators, and we can see that EURUSD and CL1 are starting to trend upwards.
There are lots of chatter in the media on Crude, with some saying crude is going to visit 20-30 USD, USDJPY to strengthen again, etc.
Time is about right.
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