I've been charting my as off, since 5AM, this morning, trying to find a technical reason, for the 3% gains we saw in Europe, on Tuesday? The closest thing I could find was that the EEM bounced back to the top of a range, seen on the chart below, but I must be missing something.
$EEM - Gaps back to the top of the range
Yesterday was day 11 of the (trapped) bear hostage situation, and the manipulators have continued to drive FAANG stocks higher, for as many days, namely $AAPL. Just goes to show the bulls always return to what has worked in the past.
You know where I like Apple? $55
$AAPL
This morning you see them rushing back into Energy, because that has worked...
What also has worked in the past, is to drive stocks up into the end of the first quarter, and we haven't seen a rally like this since the covid induced bullish market reversal of March 2020. I touched on this in yesterday's update, and I hope you never look at cycle (cyclical) trading the same way again.
What comes next? Passover, and Easter, of course! The coming holiday will keep short sellers from adding to their positions, and the manipulators know this, and will use it to their advantage. They can either continue to keep the bears trapped, going into April Options Expiration, or 2. They could take profits..., knowing they'll have an easier time controlling the $VIX, on light holiday volume. Either way, the bulls are going to win.
I did find some interesting things in the charts, such as money pouring into the $UAE, and considering that the Saudi's continue to do business with Russia, I think I have a good idea where a low of of that money is coming from. That's right, Russia!
This could mean the end for the petro-dollar!
See:
How Petrodollars Affect the U.S. Dollar Investopedia
$UAE United Arab Emirates - Holy cow, the Saudis must really love Joe Biden, and the war hawks in Washington!
On a lighter note, I just got another account to manage - that's 4 now - and I have to allocate that money... and can you guess where it's not going? Well, it's not going into Emerging markets, or big tech. It's going into cash, and I suggest that's the safest place, for at least the next few months.
If the market had any common sense it would be selling off on any rumor of a ceasefire.
2. The market should be crashing considering that we have a senile old man making disturbing gafs all over the place, and we have an incompetent, vice president, Kamala Harris, waiting in the wings.
Kamala Harris fumbles & bumbles her way through Ukraine bostonherald
We're only 1 cyberattack (legitimate, or false flag) away from a total market collapse
The $VIX took out my wave 5 target yesterday. Could see another shakeout I guess, if a cease fire is declared, but the $VIX has been shorted long enough, I think
$VIX - 10 min view
If Transports can't lead the Dow higher, and $SOX can't lead tech higher, then there is no bull market.
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