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Friday, July 9, 2021

Market update #2 - Typical Friday short squeeze

 This is the second update in one day, but I forgot to mention the breakout on High beta, and I also discovered manipulation in the Russell 2000, I wanted to share. 

$SPHB (High Beta) - Actually broke out yesterday, when most everything else was selling off. You'll  find this chart in my public charts area, although I don't pay much attention to those charts much anymore. 

As I type, I see the $SPX retesting the recent high. I remain bearish, based on the elevated $VIX. 

And speaking of markets being rigged, on a Friday 

$IWX (Russell 2000 value) fund. Look at how they engineered the short squeeze! See the note... 

They raised the bid just above the 50 day moving average, at the open. We've seen this plenty of times before, but I'm still surprised when I see how the rigged stock market operates.  

$DIDI - I decided to chart this junk. Seems to be stuck in a death spiral. 

Here's a chart to watch going into the next earning season. 

$BAC Bankrupt of America - Watch the 41.65 level. That was the 2007 high. 

Enjoy your weekend, AA 

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