Market Update 3/11/22 - The Weekly Wrap-up

 This week, we saw the broader market continue to consolidate in the lower end of the range. 

We saw the technical top in Oil sold, on news that Russian oil is going to be sanctioned. 

Buy the rumor, sell the news thebalance.com 

$BRENT - Should get a tradable dead cat bounce off the top of my black line, around $100 a barrel. This ensures that the criminal banking cartel get's paid on their $100 contracts for several months, into the future. Rigged Options Market; Mission accomplished!  

$USO - $70 target 

From there Oil and gasoline should remain elevated, going into the summer driving season. 

 $URA - Here's a good example of what I'm expecting oil to do. Snap back into a bearish pattern 

Money Managers face deep losses on $170bn in Russian assets ft.com

I could've ended up on the wrong side of the Russia trade, but I decided to take my time scaling in... I never did pull the trigger on Russian assets, and now the fund has been de-listed.  

And even worse trade would have been caught in a bear trap, in the nickel market, before that market closed. 

If US markets lose 10% in a day, they will also be shut down, by the plunge protection team. 

Just goes to show, the powers that be, will openly manipulate markets, anytime they want, and call it the "new normal",as they have to do, every few years. 

What's amazing to me it how many traders believe that we're trading a free and open market. Look the whole thing is rigged, and has been rigged for a very long time! The fact that honest people continue to invest their 401k, and Pension, in the greatest ponzi scheme the world has ever seen, doesn't make it an honest market. 

WASHINGTON HAS A PLUNGE PROTECTION TEAM? Reuters 

I'm not sure how long we can go on like this before we see another great depression, but if things get too ugly they can just close the markets, and the banks, and ban the ownership of gold.  

How long before they close oil markets to speculators? There are already too many traders, and too many trading platforms, and this trend is bound to reverse, and that means 90% of new traders, are about to lose everything, and have no idea what is coming. 

Today they blame Russia, and tomorrow they will blame oil speculators. 

$ICE - prime example of a saturated oil market 

 

2 years without a correction is an awfully long time!

Perhaps if the fed goes to negative rates, using Russia as an excuse... and then Russia and Ukraine kiss and makeup, and that crashes commodities markets, then maybe we can return to deflation in the headlines, this rally could continue for another few months?  

$NYSE - from the Public Charts area - looks like wave 5 to me. 

   

Take care, AA 

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