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Thursday, September 21, 2017

Rigged Markets & the Financial Collapse News - Update 9/21/2017

Wow, what a great trading day we saw on Wed., and once again we declare victory over the rigged market! Not that we saw any really big moves, but the charts were firing on all cylinders, and I was able to call several market reversals in real time. We even managed to get on the right side of the gold miner trade, switching from bullish, to bearish, after updating the chart in the AM. It was a grand slam!

To Review: 

1. Right off the bat, we identified resistance on the $SPX, at the (higher) open. Good example of why higher highs aren't necessarily bullish. In fact all market tops are found at new highs, and if you find yourself getting squeezed out of your short bets on every new high, you have no conviction... and at some point you're going to end up buying the top instead of selling into it.

2. Called the reversal on the $VIX. Of course this coincided with the bottom on the $SPX.

3. Called the sell-off in gold miners
4. Correctly identified the stop-hunt on the $SOX index. Broke down right where I predicted...
5. Found support on the Apple chart

6. Found support on the SPX, and updated the next target, before it closed in the green.

7. Confirmed the bullish trend on the $RUT, to confirm the risk on trade. 

You didn't think the powers that be would allow the market to sell off on a holiday (Rosh Hashanah), did you? Rigged

 “And that’s all I’ve got to say about that”!


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