The only reason why the market keeps scrolling up going into a recession is futures manipulation. Look at the chart for ES1, they buy at the end of the day, pump futures on low volume overnight, then dump on high volume in the morning when they sucker people into buying into the gap. 4 days in a row now, idiots still buying right now even though the market is well of the highs.
Chart pattern looks like it should go down tomorrow, but it's Ponzi 401k payday Friday, so I'm probably just gonna stay out. Made $1k flipping puts off the open. that's good enough for today. I think that's the only play up here is to play the pump and dump along with the computers.
Seriously, a gap up when Europe is going into a recession (negative IP numbers last night), terrorist attacks on tankers, and jobless claims rising. In a normal market, all of those would cause the market to go down. Looks to me like the market is expecting another QE because pumping the market at the top is a smart move for central bankers, lol.
Chart pattern looks like it should go down tomorrow, but it's Ponzi 401k payday Friday, so I'm probably just gonna stay out. Made $1k flipping puts off the open. that's good enough for today. I think that's the only play up here is to play the pump and dump along with the computers.
Seriously, a gap up when Europe is going into a recession (negative IP numbers last night), terrorist attacks on tankers, and jobless claims rising. In a normal market, all of those would cause the market to go down. Looks to me like the market is expecting another QE because pumping the market at the top is a smart move for central bankers, lol.
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Volume is light across the board, nothing to trade. Watch out for the end of day futures pump or dump, if they pump in the last half hour, expect another gap up tomorrow.
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Nothing day until the last 15 minutes, 7 pts in the last 15 minutes. Check out the massive buy in futures before close, lol. Algos in full swing, expecting 10 - 15pt gap tomorrow morning. This is now entirely a computer game with no connection to reality.
If the Feds cut rates, this might just go parabolic, lol.
If the Feds cut rates, this might just go parabolic, lol.
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Note: There's a gap in futures at 2949, as much as the market hates gaps, futures hate them worse. It would appear that they are going to fill that gap come hell or high water. Computerz refuse to lose money.
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Broadcom gave poor guidance, down 8% AH and taking all chip stocks with it. Futures gapped down on open, the closing price seems to be creating resistance now. Considering the buy volume at the end of the day, appears it trapped a lot of bulls.
We'll see if that resistance holds or if the pump machine wins.
We'll see if that resistance holds or if the pump machine wins.
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Apparently bad news doesn't matter. Asia red, Europe red, S&P went positive. They're trying to close the NASDAQ futures gap, which will send S&P futures up 5 or 6 points.
Regardless retail numbers tomorrow morning means more anyways. I think it's supposed to be positive... so gap up.
Regardless retail numbers tomorrow morning means more anyways. I think it's supposed to be positive... so gap up.