All pure manipulation. There is no market right now, just the Fed pumping futures.
The S&P finished just above its trend-line today. The market might go higher one or two more days, but that's it. It's already in overbought territory. Technical selling will catch up with the market by mid-week guaranteed.
How can there be when the futures are jacked up 20 pts. before the open? Market closed right at or slightly below the trend-line yesterday, so the only way this rally could continue is for there to be a fraud-up this morning, and there was.
What's there to discuss. Market penetrated trendline yesterday and tanked, but was rescued in pre-market during European hours with futures pump.
It's that simple.
Futures up 130+ this morning before the number. The market pierced the trendline yesterday, so they had the lift it back up to save the market from falling below trend. Pure fraud.
Admit it, you bought high last week and sold low today.
PPT is always watching. Not going to let the market go off the rail in the first week, so that the economy nosedives the rest of the year.
Bad omen. Technicals rolled over in the last tent minutes, where momentum had turned negative. Hence the quick plunge. The setup for next week is negative.
Just a buying opportunity on the dip. Positive setup with positive momentum 10 day and neutral 20 day. Winter is on it's way. The pull-back in WTI just a hiccup today.
First rate hike in eight years into slowing cycle with junk bonks rolling over and we're up? Absolutely makes no sense.
We should be down 200 by the close. No more fix for the addict.