This market is a joke. This morning we're seeing the $DAX and the rest of the UK gap down over 1% on war - with Russia - fears, yet $SPX futures are green, as the $VIX continues to be sold below the magic 20 level. And all this at the 4700 (even) level, on the SPX. Could the market controllers be any more obvious?
Once again, the geniuses are using the SVXY (ultra short VIX fund) to held keep volatility down, just as they were doing, going into the end of 2020. The proof is in the chart below!
$SVXY - Buyers coming in at support - set a stop below the 50 day ma....
No doubt endless amounts of taxpayer money are being used in order to keep the ponzi market economy from imploding again. Proof of this can be seen by looking at the record volume, seen on the $VIXY
We did see panic selling in tech stocks in a pattern that earily matches the most recent pullback in Oil.
$QQQ - 10 min view - falls out of a down-turned triangle. Looks like a little panic wave e.
$USO (US Oil Fund) - 60 min. chart view - "" (same pattern as above), although a much bigger move. Kind of a mini flash crash.
We continue to see China remain in an oversold condition
Natural Gas continues to be sold, at the 50 day moving average, and $UNG being shorted. I think this is another rigged market. The banks are probably shorting NatGas in order to ease inflation.
$UNG
Gold gapped down last week, only to gap up to the same (pre-gap) level, yesterday. Perhaps this was on WWIII fears?
China, US, UK, France and Russia pledge to avoid nuclear war cnn
So, we're seeing Gold taken down again, and I'm kind of expecting a little snap-back rally in tech, going into another Friday (Weekly Options Expiration), and I guess we'll see where we are next week.
ST Support on the $SPX is going to look like 4727.
Be sure to checkout the NASDAQ chart in the Public Charts Area! The Bullish trend is intact, and there will be short covering....
Take Care, AA
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