“The heavy lifting never stops!”
It’s night time now; markets are open but dead, so no need to watch anything. In the quiet aftermath of yet another day of very heavy manipulation by central banks, I sit in the opulence of the beautiful Caribbean and reflect on many things, but as is often the case, I sit and think about what has happened to markets in the last couple of years, and how they have been utterly decimated, manipulated, damaged, and turned into an ATM for the global elite; “when graft, bribery, corruption, and influence peddling no longer bring in extra dollars, why not turn markets into our own piggy bank to not only achieve policy goals and objectives, but to enrich ourselves even more? Who’s going to stop them”?
The contrast between what is “real” and what is “fake” is growing exponentially; sadly, we live in a time when more people than ever can’t tell the difference. The most obvious example, and has been for years, is the MSM [mainstream news media], which is nothing more than the mouthpiece of the Democrat party and Libtards everywhere; you simply got all the proof you need from the 2016 election, where once again putting all of that “cinnamon & spice” [spin] on bat guano [Cankles] can’t turn chicken shit into chicken salad no matter how you “spin it”.
Which leads to the obvious EXIT QUESTION: “What else is a lie; what else is a deception; what else does modern life in the “hyper media age” distort; and finally, is there anything in government that isn’t corrupt”? SHORT ANSWER: “Most everything, and outside of the military, government is a sick joke. Simply put; live life on your own terms and refuse to be manipulated”.
Directly below are 2 daily candlestick charts; the first is the Dow30 [105 point grid] and the second is the DAX30 [105 point grid]; both have the “Ichimoku” cloud technical indicator on the chart for support and resistance areas.
“One is heavily manipulated; the other one isn’t.”
Clearly, you can see the difference in the 2 markets trading on the daily candlestick over the last 5 months or so; the DAX30 has a much more traditional [meaning “NON MANIPULATED”] daily chart pattern with both up and down days; the Dow30, on the other hand, has large down days, up days, and very little of anything else in between. In other words, the DAX30 has “trading”, the Dow30 not nearly as much, and the SP500 is a complete trading joke.
Yesterday, after I posted, I realized that Thursday is a big ECB “Pow Wow” with Super Mario blessing the world with his brilliance, followed by a presser, where he can explain his brilliance in a few million words of complete bullshit to a sycophantic press that will eat up every word, even though they don’t understand a thing he said … which will be nothing. What that means, of course, is that today’s action in the DAX30 will be “muted” at best … and so far after 5 hours of trading, it’s a nothing burger with a 50 something point range, and the look, feel, and smell of the “Flying Wedge of Death”; don’t be surprised this market ekes out a new high and/or low by a few points and then retraces, just to set off a few stops and pad the dealers pockets … so, after tomorrow’s ECB meeting and presser, I’ll be spending the early morning hours trading the DAX30.
Turning to today’s market … the usual “vapors” up in the pre-market to get the Chipmunks higher prices on the open … more upside manipulation; what else is new? … and expect the same low volume ramps up today in the most manipulated market on earth, which is the SP500, and look for another new all-time record high close before it’s over. As for the Dow30, who knows, as maybe it correlates and maybe it doesn’t; lately it’s a coin flip.
An hour into this clusterfark, and the SP500 opens and literally races up over 5 full index points to a new all-time record high, and the Dow30 reluctantly moves about 20 points; however, after the inevitable backing off of the SP500 by a few tenths of an index point, the Dow30 goes right back to where it started … and now we sit in the “manipulative chop”, where we can spend the rest of the day in mindless nothing… seriously, I’m running out of adjectives to describe how pathetic this market’s trading action is becoming … at least the DAX30 has a legitimate excuse today, with the ECB & Super Mario tomorrow morning for all kinds of fun & games up and down … but the Dow30 & SP500 are seeing their correlation continue to deteriorate, while the ranges shrink right along with the VIX moving to well below 10. And after one hour, the Dow30 is exactly where it was when it opened … can’t hardly wait to see what this crap looks like in 3 hours.
It’s Noon in New York, and personally speaking, this is excruciatingly painful to see once great markets reduced to manipulative coins by government … I fully realize it’s the day before BOJ & ECB policy meetings, and it’s summertime, but even taking that into consideration, the pain that is coming when the volatility “Genie” is let out of the bottle will be eye watering … the complacency and risk taking in the belief the FED will always “be there”, so it doesn’t matter if you pay 100+ PE for Netflix and all the other tech wonders that make zero money, is going to be a cataclysmic mistake this generation of investors and traders are in the process of making.
Every day, the SP500 opens and goes higher … doesn’t matter what the news is good or bad … it just goes higher in a pattern of “jump ups” … stays level … jumps again … rinse & repeat, I guess ad nauseum infinitum? Meanwhile, the Dow30 is a basket case of panic … one minute panic buy, the next panic sell, go back to the middle and die for the day … the problem isn’t one of not being able to initiate a trade, the problem is one of risk/reward; there isn’t anything here, on a day like today, and so you’re thinkin’, “well, I’ll just get in there and take a point or two and scalp my way to riches in this bucket of slop”. And maybe you get a few, but against that just from today, the market has had 5 … go ahead and count ‘em … five, two or three M1 series, where price dived 10-15 points quickly before recovering. You get caught in any of these, and you need 7 of them to get back to break even … and what do you do if you get caught in one of these and lose 8 or 10 points, and then get back in and the market can’t even get out of the spread of 2 points in the next half hour? … not only are you risking more, but is there any chance you can make anything back? … in theory it looks good, but in reality, you just end up handing the scumbag LP free money, as they take you on slippage each and every time.
Here in the mid-afternoon, if we aren’t in the end stages of a “blow off” top, then I don’t know what you call it … but, I can tell you this … I’m not buying rallies in this stuff … I buy the breaks, but I’m not buying rallies … what can’t be sustained won’t be, and there isn’t any justifiable reason for the SP500 to be up in the mid to upper 2470’s, simply running up for no reason every single damn day. And as we saw just yesterday, the breaks in this stuff are eye-watering when longs get trapped and hit the exit gate. You ain’t seen nothin’ yet!
To recap the day … nothing … no trades as there is literally nothing to trade on … no breaks … no activity that means anything … the entire day has been an exercise in nothing … except that the SP500 [along with the Dow30] has been manipulated higher, yet again for the umpteenth millionth time, and continues as I said it would very early this morning, to new record highs on “vapors”. The Dow30 trading action doesn’t even deserve comment cuz it’s an insult to the word pathetic … The DAX30 puts in a 69 point range to mark the day as a “waiting game” for tomorrow. Meanwhile, as I said earlier, there aren’t any adjectives left to describe what I see in the Dow30 and SP500. Nothing to do but wait for tomorrow and hope there is something to trade after the DAX30 and Super Mario gets into his little “dog & pony” show and attempts to baffle the world with bullshit. Can’t hardly wait. Onward & Upward!
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Time for the beach … dog and I are outta here … until tomorrow.
Have a great day everybody!
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