"But who was buying? We now know who wasn't: according to BofA "BofAML clients were net sellers of US stocks for the third consecutive week, in the amount of $1.7bn. Similar to in the prior two weeks, institutional clients, hedge funds, and private clients alike were all net sellers."Fed in a two day policy meeting - Might as well come back after that is over. Gonna be dullsville till then.
On to the lie -
SPX 15m - See MACD, the 4 clear tops, the 4 negative divergences and the 4 clear overthrows. Price tried its technical best to follow the rules when the black channel set and drove price under blue wedge support, price fell, had backtest at double resistance, all which should have lead to failure. Of course that was overcome and now price is back in the end and should be completing the rising wedge. If that break of support was just lowering the support diagonal (an old Fed trick to extend a rally) so be it. The technical situation is crystal clear, however the overriding Fed/QE/fraud/corruption/manipulation situation is all that matters and that is not an easy call.
Freedom watch -
Vaccine Cover-Up Imploding in Congress
More to come below.
Have a good day.
GL and GB!