You're probably asking, "what damage..?", "what reversal"? '
The damage in Fast Money Favorite, the $NDAQ, down over 4% yesterday. No wonder the show's participants were all bearish, and looking like they had seen a ghost, yesterday!
$NDAQ - gives back 5 days worth of gains in yesterday's session. Also see the selling volume! That confirms the panic... and this was no accident! Could be I had something to do with it, but you can never prove it.
I don't usually watch the show, or go out of my way to troll the Fast Money crew, but I caught a few minutes, yesterday, and then I was reminded that I had warned Guy Adami, just days earlier
And tech #stocks are off limits unless the NASDAQ chart can be repaired. Don't be an idiot pic.twitter.com/7xJLvPnrEz
— Veteran Market Timer (@3Xtraders) October 15, 2021
Speaking of the NASDAQ
$QQQ Target being taken out, and closes the day flat, regardless of fake new highs on the DOW. As I've been saying for weeks, the DOW lags, so it makes sense that it would top out last
Looking back at the past few weeks:
The Transports led the DOW, and that was never even reported. These fools at the networks, know dow theory, but they don't like focusing on facts. Instead they spend a lot of time trying to promote the use of experimental vaccines on children! This is all going to backfire, as people refuse to allow themselves, or their Children to be used - by the industrial pharmaceutical complex - as guinea pigs. It's bad enough they're trying to force adults to get "jabbed", with an unproven vaccinated, but children are at very low risk....
The controllers continue to insist that the vaccine is safe and effective, but there is plenty of scientific evidence of the contrary, and they can't even be honest about who created the virus in the first place, when the powers that be have been splicing bat viruses - to make them more virulent - since 2013!
Engineered bat virus stirs debate over risky research (nature)
Don't expect that to be reported by the vax pushers in the msm. They've always pushed the seasonal flu vaccine, and even helped coin the phrase "anti-vaxxer, to describe people who like to think for themselves. Just google search the term AV, and you'll see what I mean.
What's killing people, besides a lab made corona-virus?
UK Records Its Highest Daily Death Toll Since March (skynews)
Related: England & Wales More People Are Dying But Not From Covid (lakesuperiornews)
Getting back to the Wall Street Rally (in hindsight)
China led, and I caught some nice gains there. This was 10X the trade that the DOW rebound was.
$YINN is up $4 from where I called out the $FXI trade on Oct 7th.
$TPOR is up even more, after overshooting the target!
Note: I never alerted to the $TPOR trade, and for good reason. "Loose lips sink ships".
Funny that the lame stream media is reporting that the Dow hit an all time high, but they fail to mention the $NYSE (which is far more diversified) broke out to a new highs, the day before.... They only seem to care what the $SPX is doing, as if that's all that matters.
$WSLH (The Wilshire 5000) double topped, and could certainly take out the previous high, before the weekend. I would give that a high probability since double tops are seldomly sold. Better to breakout to new highs, before pulling the rug out! This creates a lot more bag holders, which is exactly what the market makers want.
China
I know I've downplayed the Chinese property bubble (collapse), as reported by the lame stream media, but what they fail to report is the truth about crumbling ghost cities, while only pointing to Evergrande... which is just the tip of the iceberg!
And why does Bloomberg wait until today, to reveal how bullish BlackRock, and $UBS, are on China, when this is a 3 week old story (as Reported by Reuters)? Sounds like the controllers, behind the scenes, want to create a whole new class of bag-holders, as they unload their shares!
I guess only time will tell which sector is going to be dumped next, but there's a very good chance it's China, as Evergrande shares plunge 12.5%....
Final Thoughts:
How 'bout that 5 minute $VIX, call yesterday afternoon, just as fear returned...!
$VIX - see yesterday's blog for the big view, because the 5 min. chart can break in a New York Minute ST watch the 200 ma, and especially the 16 level.
I'm running late this morning, and see the 5 min. $VIX trading above the 50 day ma. Maybe I'll add this chart to the public charts area.
Is there really a recovery, or just the hope of one, that's already been priced in? And what about the national debt, China, and the horribly broken supply lines? Not to mention that we have a deranged impostor in the White House. How much longer can Wall Street remain irrational?
Good Luck, AA
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