Source: Zero Hedge
By now it is no secret that in the past decade, the “Big 6″ global central banks have boosted their combined balance sheet by an unprecedented $11 trillion, from $3 trillion to over $14 trillion, just as it is no secret anymore that the only reason the global market trades where it does is courtesy of the “flow” or liquidity generated as a result of this unprecedented intervention, whose inevitable outcome is eventual inflation. What, however, was hidden in plain sight, was the chart responsible for this massive stock market surge, which has seen the S&P double in the past 4 years (if go nowhere in the past decade). Luckily, we now have “deciphered” the subliminal message contained in the global central bank liquidity “flow”, which is shown as the deep blue line in the chart below. Technicians have a specific name for the pattern that has emerged: “the middle finger formation” and while others can call it by a plethora of other names, the central bankers’ message to the rest of the world is now plain for all to see.
Source: Diapason Commodities
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