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Tuesday, August 9, 2022

Market Update 8/9/2022 Upside Targets are Becoming Clearer

 We're not seeing much movement lately, unless you know where to look, and the news cycle continues to spin out of control! 

Even in such a drab market, I could blog on any one, of half a dozen interesting topics:

1. The Fake Financial News Cycle - I actually started making a list yesterday afternoon, as I watched the ladies of Bloomberg spin several topics in a row - in real time. 

a. The idea that biotech investors are just now investing in the sector. Look, Biotech has been leading the entire rally for going on 3 months now. I started alerting to this over a month ago! 

To document...

July 5th - Biotech breaks out 

July 8th Biotech breakout confirmed 

I bet Biotech holds up into August OPEX, and takes several more weeks to pullback, after this kind of momentum! 

$XBI Biotech up 16% for the month, and up 50% since it bottomed in early May. It seems that Bloomberg's Taylor Riggs is a little late to the party!  

Speaking of biotech, the powers that be have every intention to merge man with machine, and there's evidence that this may have already happened, to the vaccinated. 

Frightening Tweet - if true 

Of course the deep state controlled main stream media, would probably call that "Russian propaganda", but I'll leave that up to you to decide. 

b. Bloomberg reports that the passage of the latest spending bill is helping energy stocks? 

More than wishful thinking, to help Joe Biden. Look, these energy stocks have also been rallying for weeks, as government insiders, who knew exactly what was in the bill, put money to work! 

c. What was the 3rd lie again? Oh, yeah! One of their guests came on an claimed "nobody can time market", or pick the bottom...

 I think that's the most blatant lie being perpetrated against the retail investor. 

Markets are not only predictable, but they are perfectly choreographed!   

2. The Rigged Silver Market

I won't say who drove the silver market up 4% yesterday, because I have a good idea... It's a thinly traded market, so it didn't take much to raise the bid above resistance, and hold it there.  

But I don't think these were Reddit traders; these were Pros, who pulled this stunt, and they even managed to leave an abandoned Island pattern behind, on the Gold/Silver chart!  

But can they drive Silver back above key support - above the 21.40 level. I don't see why not! 
I may be adding the Silver chart to the Gold Update area, in the upper tabs menu, and calling it the "precious metals" tab.   

3. Rigged MEME stock rallies - I didn't see the short squeeze in $BBBY  coming yesterday, but I did cover the meme stocks rallies, over the weekend - see  8/8/22 The definitive Meme Stock - and Crypto - Market update - Guaranteed to Piss Off the Hedge Funds! 

4. Rigged Options Markets - this is the whole reason you aren't seeing markets react normally, to all the negative news. They (the Powers that Be) didn't invest Billions of dollars in a bear market rally, in order to panic-sell out of their positions, every other day/week, like most retail investors do. They are juicing this market for all it's worth, because they are hell-bent on getting paid on their Bullish Options Bets. 

I actually had some troll suggest that the market had been run up, in order to buy Put protection, against the Fed minutes, which supposedly come out some time in August? 

Adding this troll to the Wall of Shame 

5. Novavax  - shakeout called after yesterday's closing bell. This morning, we see if down 30%.

There was some news on the stock last night, but I couldn't make heads or tails of it. No matter, I'll  trust the charts, over the news, any day of the week. 

6. The AI controls everything - this could've been the title of today's blog. I don't have much time to get into it, and I'm still gathering evidence, but it all comes down to moving averages being used to drive the AI, or vice versa.  

Watch those 20 moving averages! And especially the one on the $VIX chart, I pointed to yesterday. 

Take Care, AA 

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