With markets sitting nervously at or near ATHs with the Fed blowing all the hot air they can into it's sails - could a slip occur that rocks the boat? It's no secret that this market is fabricated from little more than easy money (global QE), co-located HFT servers, Citadel, CME/CBs, buybacks and whatever other delightful tricks the fed has up its sleeve. Nothing is real anymore, that's a fact.
Don't believe and hear what you see my friends. 47% of the Nasdaq is in a bear market right now. So, who's zooming who here? What would one slip, say a GB default cause they not longer have any oil to back their .. everything? We may see the crown jewels being pawned for goodness sake. What's next, Great Britain issuing a Yuan bond, LooooL, when pigs fly maybe. Wait ...
What's gonna happen with the price of gold with two exchanges - one they've manipulates since the 70's and a new one they have no control over? Do you have any clue what could happen globally if the price of gold were set loose to a free market pricing system? Lawd have mercy! Impossible! Wait ....
On to the lie -
SPX Daily - One chart today should handle things. Starting with the first technical overthrow back at the beginning of 2013 near 1475, not long after my "we're entering a period of unprecedented manipulation" tweet, they've been on a rampage. A run to beat all runs, simply cause they can't even let the market correct.
16 months of negative divergence for the MACD including seven sub negative divergences (really 27, but who's counting) following the overthrow of that pink diagonal which is the multi-year upper market resistance off the 667 low.
No big deal, a normal retracement here would be a move to the 38% retracement off the 667 low would take us to near 1500 and the 200wma. That's only ALL of the gains you see on this chart.
Let's not get too dramatic, a simple 38% retracement of the move off 1475 takes price to 1800 and that lower blue support diagonal. Anything below that and then drama will be in order.
Everything is just fine. If these move happen the MSM propagandists will be all over those spots as sensational technical buying opportunities, so you can load up again there with ..... well, whatever you can find.
This could be one heck of a day.
More to come below.
Have a good day.
GL and GB!