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Thursday, February 24, 2022

Market Update 2/24/22 - Sell the rumor, becomes buy the news

Perhaps we'll see cooler heads prevail (next week); now that "sell the rumor", becomes "buy the news". My point being, once the bad news is out, there's no longer any reason to sell, and I say next week, because I expect the weakness to continue into tomorrow (weekly OPEX), because every options expiration date is prime time for manipulation. I also figure it could take at least 1 day to build a base, and paint a doji reversal candle on the chart.  

Full Scale Russian Invasion? No

Something the lame stream media fails to mention is that the Russians have started what they are calling a "special military operation", in order to remove the west's chemical weapons build up, on the Ukrainian boarder. 

Meanwhile, Joe Biden, and his bought and paid for, lying, "progressive", western, media, and the NeoCons, as well, all go out of their way to report this an, "unprovoked attack", when in reality, it was entirely provoked. 

This all could've been entirely avoided if only we had learned the historical lessons of the Cuban missile Crisis, when Russia attempted to put weapons on our boarder, which resulted in a military standoff, one like the world had never seen before. Now history repeats itself. 

Hopefully, if any good is to come out of it, the idiots in charge will learn not to provoke the Bear, or the dragon, with such blatant disregard, in the future.    

Ukraine Rebels, Russia Claim Imminent Chemical 'Disaster' As U.S. Urges Calm newsweek 

Going to the charts

Yesterday, I showed you how Russian stocks were targeted, by the taking out of the 200 day moving average on the Russian ETF, and we're no doubt seeing the proverbial baby, being thrown out, with the bathwater.   At the end of the day investors need to ask themselves, what the take down of the Russian economy, has to do with the number of Netflix subscribers? 


$VIX Looking at the $VIX chart which is located in the public charts area. Looks like it could be jacked above (35) resistance - at the open. This is to cause the bulls to capitulate. Back up the truck... 

We have to go to long term charts this morning in order to find major support. 

$DAX - Germany is the thing to watch, since US markets are totally rigged, thanks to 30 years of fed intervention.  Looks like the 14k level is being tested in pre-market. You'd actually want that level taken out, in order to shakeout the weak hands, so things could be a lot worse. 

The selling in US markets has been very orderly, and like I said yesterday, nothing has changed. 

The Dow isn't even down 1000 points, so things aren't so terrible, and the broadening pattern, remains intact. Even 1100 points lower, this looks very bullish. 


Nothing we haven't seen before

$INDU year 2000 

$NYSE  The NYSE continues to trade in a broadening megaphone pattern, and 1 more day of selling, won't change that. 

Oil - finally seeing a blow-off top in Oil, as I predicted last week. In fact we had already seen BRENT crude overshoot, yesterday, and I'll be looking to add to my Oil short on today's panic short covering. 

No worries 

Take Care, AA 

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