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Friday, August 27, 2021

Market Update Friday 8/27/21 - The Fed Rate Hike coming?

The "Rate Hike" took place in S. Korea - Wednesday night - Thursday (morning) - something you probably did not even hear reported by the fake financial news yesterday, but which definitely spooked markets. An executive decision must have been made to purposely bury that story, in order to push the Jackson Hole narrative, and now know who controls the world - the money masters.   

To the charts:  

 I was just thumbing through some charts, and looking for the pattern I pointed out on the short term NASDAQ, in yesterday's blog, and came across this view of the S&P (below) and even though it's a different index, and a different timeline, it's relevant, and even more so, because it's a much longer term chart.  

 This is one of my secrets, is creating a multitude of chart views, using different timelines, and I can tell you from experience, it's not always easy weeding out the good (relevant) charts, from the bad.  Seeing triangle patterns, develop within larger triangle patterns, also has significance. It helps confirm that these can indeed be identified as triangle patterns.   

$SPX - Major topping pattern - ending diagonal triangle. The obvious stop is the 50 day moving average. AI has been adding to bullish positions at the 50 day, since April, and when the rug is pulled, the stupid machines will sell. It's that simple. 

Since the powers that be, know the market ISN'T going to be sold, going into another holiday week, let's assume the 50 day moving average will continue to rise to the 4000 level (new support), so that this rally will extend into Q3 window dressing. When money managers return from summer vacation, they will be forced to put their clients money to work, and then comes Sept. OPEX. Perfectly choreographed rigged market!   

Getting back to the NASDAQ

$COMPQ - 2 hour view - another rising diagonal triangle. Support looks like 14800, and by next week it will be 15000. The Powers that be are all about even number targets. NASDAQ 15k, DOW 30k, 35k, SPX 4500, 5000. All contain 5's, so they make perfect psychological targets.     

And by the looks of things, I'm going to be taking my short bets off, sooner, rather than later. 

 It's pretty clear the market wants to hear a dovish chair Bernanke, and I'm sure that's also been pre-arranged. The Fed won't pull the punch bowl away, until every crooked member bank is on board, and heavily short. Then will come the downgrades, from Government Sachs and the like. Never fails.... 

Natural Gas short squeeze yesterday - missed it! 

At least I knew better than to be short NatGas, because 2X NatGas bear $KOLD was down over 12%.   

Take Care, AA 

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