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Friday, November 19, 2021

Market Update 11/19/2021 - $SPX Led Higher by Big Tech

 $SPX Led Higher by Big Tech 

That was the headline I read yesterday, which is unusual, because big tech usually rallies the DOW. 
I know Materials stocks were down yesterday, but not exactly sure what else leading the way down there. 
Basic Materials - called out last week 


Yesterday's trade went about as predicted; even though I had to update the 10 minute $VIX chart, fear and volatility remained relatively low, and the trend (lower) remains intact.    

 NVIDIA retested the top of the channel, and that lifted the $SOX, which in turn rallied TECH higher; as Energy, the Russell 2000, Financials, and China continued to sell off. 

$NVDA - perfect chart updated from yesterday morning's blog.  


In hindsight what we're seeing is another series of sector rotations, and I suspect that once we see profit taking in the tech sector, money will flow back into financials, energy, small caps, and even China. 

This is a prime example of how markets are rigged; one sector at a time. In a healthy economy, you could see every sector rally, but nowadays everything is an illusion. The majority of stocks are not making new highs, and this has been the case since 2008, and bullish sentiment actually peaked in May. This is not a healthy market, or a free market; it's an elaborate scam. 

New Highs vs New Lows - 

The majority of stocks are not making new highs, and this has been the case since 2008, and bullish sentiment actually peaked back in May. This is not a healthy market, or a free market; but an elaborate scam, perpetuated by a banking cartel, and our crooked government. Don't believe me? Read the chart.  



Since tech has continued to lead... I though I'd draw up a new $NDX chart. 

$NDX - DCS Chart - We saw pretty good buying volume yesterday, but we only saw a retest of the top of a bullish channel. My guess is it will be propped above the upper channel line, so that the criminal cartel will be guaranteed to collect on their Call Options, on this OPEX Friday. There's always a slight chance that we see a violent reversal today, but we still wouldn't see much downside, as nobody want to go into next week short. 


The #QQQ looks pretty much the same. And you can see that the #NASDAQ would have to give back more than a weeks worth of gains, to even break support. Not going to happen, and that's the whole point of pumping the market into an OPEX Friday, ahead of a holiday. Whoever said, "crime doesn't pay", never worked on Wall Street, post 2008.  


My guess is we're going to see a slow motion pull-back on lower than usual volume, and volatility, similar to what we just saw in Energy, and financials. It was so insignificant, it wasn't even news worthy, and although I was short both these sectors, I had to wait a little too long, for the pay off, and really made nothing on those trades. 

It's going to be a rather difficult market to predict over coming weeks, with mixed markets, and the market controllers wanting to end the year on a high note. It's really going to be tricky. 

I think Financials, and energy will get a bounce, before seeing another washout, and that could end with a rally into the end of the year. To beat the crooks you have to think like a crook.  

Good Luck, AA 




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