Looking at ES1! and all the PPT interventions can make one wonder how to invest in a sick market such as this one. It is hard indeed, better stay put. The night has brought us a slump in equities but at the open the magic buyer appeared and bought... EVERYTHING carrying the market towards green numbers. Meanwhile, rates seperated from equities, and judging by who is right most of the time we can hope for another slump in equities coming soon. Volume is showing weakness in this correction trend in SPX and we can see higher volume on some selling pressure. I stay bearish and hope that the market forces can defeat all the political agenda standing behind the 10-years-long debt-fueled false "recovery" thus ending the Fed project which was doomed to fail since the very beginning. Trump is panicking and acts like Enron's CEO. He only wants to boost stock market and nothing more. He will do whatever the bankers say to keep markets from falling because he knows he will lose the job if it falls another 20%. I guess he may even back off from the idea of building a wall so that there would be no government shutdown - just to keep investors happy. Will the markets win? It is hard to tell. IMHO the only thing which can keep it from going down is Fed's statements. This is ridiculous. All hail the market Gods!
You have proof it was the PPT and not the 200 weekly that everyone was expecting a bounce from?
Slimsy
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@MrMarketMaker, If I could proof beyond doubt that it was them then it would mean they hide it pretty badly. I don't have enough sources of course. Maybe Nanex will show it one day, I think Hunsader is doing a project on it nowadays. I am just watching volume and price action - weird behaviours. There are normal bounces and weird bounces, and they are differentiable. Most of the time the weird bounces occur without much information flowing into the market feed. Have you seen what CL1! have done? I think it was also a bit weird price move given only Saudi export data. There is some gut feeling to it of course. Thanks for your question.
But well, what I said is just an unlicensed opinion of a random guy on the Internet who says what he wants.
Peace