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Thursday, April 6, 2017

Unpredictable Market Update 4/6/2017

Notoriously unpredictable Holiday trading 

The reason in part is that short sellers typically reduce their risk, before they go away. Another reason is that it's easy to manipulated a dull market. This is all the bulls got, when the Fed is seen raising rates in a slowing economy. Rigged.  

$VIX broke above support at my pink line, but now we see it being hammered at 13. Rigged imo
 No donations, no VIX chart.

Didn't I say, "don't trade for a week or 2", and this market sucks, as predicted.

Let's go to the charts:

$NATGAS touched resistance at 3.37, and sold off.  Support remains 3.11.

$Oil tried to break out before giving back all it's gains. See a bullish channel (in blue) developing.

Gold ended flat

Miners fail to break out.

$NDX I suggested selling the NDX, which rallied higher, before finally giving it all back. Now you see it pinned below my purple line, so was I wrong? I don't know.

Dow - this chart worked, but I wasn't watching the action yesterday.

Let's look at some tech stocks, since the bulls are in love with the sector. 

$FB made a new high, barely

$SNAP pulled back to support. Might find a big fat rally there, in the dash for trash.

We saw amazon pumped and dumped. I'd stay away from this one, and the rest of this market, but don't expect it to crash below my blue line just yet. Rigged  

Tesla down 3% hehe

$SOX pulls back in an unpredictable pattern

McDonalds $MCD - Bullish leader. Can't believe what it costs for breakfast, for 2 people....   The consumer is hurting.

Expect more unexplainable action over the next 2 weeks,

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