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Wednesday, November 10, 2021

Market Update 11/10/21 - The Historic Rigged Bull Market Continues

I started writing an update yesterday morning, but then came the massive Comcast Xfinity outage. Still no word on what caused it. 

I might attribute some of the selling we saw at yesterday's open, to the internet outage, but the market had continued to act stupid, in the face of a rising $VIX, several days prior...  


The 10 min $VIX chart still seems to be working pretty well, although it did break out of it's bearish channel, where you see my pink line. 

You also need to watch the 50 day moving average, because that's exactly where the $VIX was hammered back down, yesterday 

$VIX DCS Chart - I you remember, we were looking for a gap fill on the DCS chart, and now - weeks later - we're seeing it.  17.40 was the breakout point, and the next res. on the $VIX is the 200 day ma.
Of course when the VIX is hammered back below my red line, short covering will ensue.   

I don't really see the $VIX breaking out above 20, because that would trigger sell programs, and the market manipulators don't want that, but it could briefly run to the 200 day ma

Remember tomorrow is Veterans Day, so volatility should come down. This is the whole point of selling into a holiday; to squeeze most retail short sellers.    

Natural Gas was taken down, below the 50 day moving average, and that's all it took for it to lose 9% in a day. So much for the fundamentals.... 

$NATGAS - daily candlestick chart - NG continues to trade in some kind of range, or chop into a top. It's pretty unpredictable here, unless the lower pattern line (seen in pink) breaks. 

I'm outta time~! 

Good luck, AA 


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