As I eluded to in yesterday's update, the powers that be have been manipulating the DOW, and in hindsight, this explains:
1. Why Apple WASN'T SOLD with the rest of the tech sector, even though last weeks earnings weren't that great; because it's a DOW component!
2. Also explains why $CAT - gaped way up, only to partially fill another gap that was left behind back in June. An obvious pre-planned hedgefund target.
Be sure to check out the action on $MMM, which I mentioned only a week, or so, ago!
Fast forward to today's CNBC World Wide Exchange Headline
"Dow locks in the biggest 1 month gain in 50 years"
I suspected this was just another fake headline, CNBC is running, in order to try to sell CNBC Pro subscriptions, but a headline like this could also be used to help our counterfeit commander in chief, and the fascists who masquerade as our duly elected government. After all the midterms (election) is only 1 week away!
"Look, your 401k just had the best month in 50 years! What inflation..? "
Did the DOW really have it's best month in 50 years?
I kind of figured this was a BS headline, before I even started doing my own due diligence, and sure enough I was right.
It's easy enough to document that they're lying... without going back 50 years.
Pulling up a 3 year monthly candlestick view of the DOW
1. April, 2020: The Dow stages a 3600 point (or 17.5%) gain.
In today's world that would equate to a 5000 point rally, which would have the DOW trading around 33500 - 33550 - a new all time high.
2. Oct. 2022: Dow Stages a 3040 point rally, which only amounts to 10.3% gain.
Any way you slice it, last months rally wasn't historic.
Speaking of the DOW
In hindsight - the dow was driven just above the 200 day moving average, on Friday, and predictably, it held that level yesterday. That's the level to watch!
Energy
Energy held up, even into yesterday's headline, that the government is looking at putting a windfall tax on energy producers - many sources.
In hindsight, I believe Energy only continues to retest the recent highs, in order so that CNBC Pro can also declare victory on that front - and I have another blog in the works documenting how the racketeers have been working overtime to pump energy - BUT ALSO, so that the powers that be, can continue to load up on energy PUTS, ahead of the big dump.
When is the big dump?
Short term, energy continues to trend higher, in what I believe is an ending diagonal triangle, and that can continue to play out today. But if this is correct, that means we're nearing the end of the road for energy stocks.
$IYE Energy - 5 min. chart view -
This should look like capitulation for the retail energy shorts, so maybe it goes even higher, and Bloomberg is already reporting that Oil can go to $100... .
See how the powers that be use the financial MSM to accomplish their objectives?
As far as the rest of the market:
It seem as though a fed pivot is already being priced in, so we could see a sell the news even on Wednesdays FOMC announcement. The fed at this point may even call the market's bluff, and talk hawkish.
How bad could that be for the market?
That crash I was talking about last week is still firmly on the table!
Without giving away anymore free targets I can show you what that might look like on the $SPLV chart.
$SPLV - Low volatility $SPX - looks like the worst case would be a powerful wave C, of Primary wave C, and that certainly would qualify as a crash. Could give back all the gains of Oct., in only 2. or 3 days.
The fed meeting starts today. Maybe we see a relief rally, on the news, squeeze out the remaining retail short sellers, but we also have Thanksgiving coming, and I would expect to see some profit taking ahead of the long holiday.
Should be an exciting month!
Take Care, AA
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