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Thursday, April 23, 2020

Market Update 4/23/2020 - Oil Falls to $10 as Predicted Less Than A Month Earlier

$WTI Crude Oil Washes Out Just Below My $10 Target!

Best Call of the Year!

Of course every network, including social networks, were seen trying to cause mass hysteria, over the collapse in oil futures. That's the unseen hand, hard at work, as usual. Never trust the #FakeNews
Bloomberg must have had 20 different experts on to tell us the Oil crash is going to continue. This after $WTI had already doubled off the $7 low.

See Analyst View: Oil Price Crash, what next? reuters 

Gold, and Gold Miners, I think. Hopefully not not the quadrillion derivatives market!  

The last major bottom we saw in gold miners coincided with the 2016 bottom in Oil.

I think the Gold bugs believe there's going to be inflation, or hyper-inflation, but the global lock-down is DEFLATIONARY, and there's no sign of the end of the lock-down, or a recovery.

Covid19 as it turns out it just an excuse to transform America in to Chinamerica - mass surveillance state - and Illinois has already purchased the syringes for mass vaccinations.

Last night former CIA operative Anderson Cooper was seen grilling the Las Vegas Mayor, because she sees this lock down for what it is, "insanity". Of course, a twitter storm followed, so you know it's a PsyOp (psychological operation).

Psychological operations are operations to convey selected information and indicators to audiences to influence their emotions, motives, and objective reasoning, and ultimately the behavior of governments, organizations, groups, and individuals.
The intelligence agencies has been using the main stream media for a very long time.
It's become to the point where it's a lot of work, just to differentiate fact from fiction, and it's taken several weeks, just to see through this covid19 illusion, a topic for another blog.


As I blogged back in Oct., when I saw this coming:

This is fascism in America, and the corporate owned main stream media is marching in lock step! Scary stuff Linked

As far as the market is concerned, it continues to be propped up, and every rescue package helps.

We finally got a pullback on Technical Tuesday, but I could tell, by the afternoon, the $VIX (fear indicator) was going to be hammered down at res. again. This little snap-back rally probably continues into weekly options expiration tomorrow, but I'm expecting a much bigger pullback, to create a bear trap, ahead of more short squeezes already being planned, headed into Memorial Day weekend.

Gold looks like it could take out the $1800 level, looking a 1 min live chart, this morning

Longer term:

I'm looking for a pullback at some point, before retesting the highs again, maybe around August, and then the rug to be pulled out again, in order to influence the 2020 election, if there is an election.

It's hard to predict what the market is going to do 3 days from now, so follow my twitter page for the latest updates, and there's a link to the public charts in the side menu.

Take Care,

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