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Thursday, May 18, 2023

In all the years I've been watching stocks, I've never seen anything like this!

Yesterday, we saw a nice rally, and I even called the breakout in real time.  

This is the same range we've been watching all week, and you can clearly see where the market broke out above my red line, on this longer term view. 

So, in hindsight this rally had everything to do with the technicals, and nothing to do with hopes for a debt ceiling increase, as Bloomberg is falsely reporting. 

In fact this rally looks more like a (bearish) capitulation top, ahead of a debt ceiling battle that will most likely go into the 9th inning, and then overtime. 

The bulls like to sell high, so I believe they drove stocks higher, in order to sell in May.... and of course just in time for, yet another rigged Monthly Options Expiration Friday (tomorrow).  

Blatant Market Manipulation

See Germany Breaking out? That's the powers that be in Europe, manipulating the options market in the UK.  

$DAX  - an engineered breakout above 16k. At least it did a little pause - back-test - before taking off like a rocket, because when US markets are manipulated, we like to leave gaps all over the map.  


I called for an upside surprise in this week's Newsletter, so I'm not at all surprised...

Gold

The rally in precious metals continues to be faded. 


No breakout for precious metals  

Getting back to Gloomberg: 

Unless you've been living under a rock for the past several months, then you should know Japan has been rallying along with most everything else. 

CNBC Fast Money also covered the story this week, and of course those clowns are bullish, just as they were the Energy sector, and more recently Gold, when it looked like it might break out. These clowns are notorious for chasing gains at the end of a big run., but I digress. 

Anyhow I saw the oddest thing being reported last night, on Bloomberg last night, as they too covered the rally in Japan. 

In all the years I've been watching stocks, I've never seen anything like this! 

Bloomberg Asia 





Since when does Bloomberg TV point to meaningless technical levels/ indicators, in order to try to dissuade investors from investing in Japan? 
Just yesterday, I had to debunk a chart they were seen pointing to, but this time they don't even offer a chart... 

Japan? 

Granted, nobody should be chasing Japan here, but I've never met anyone who trades according to that set of technical indicators. Begs the question; who's really in charge of programming over there? 

Makes me think, they are working for the Chinese Communist Party. After all, investors have been fleeing to Japan, because they feel it's safer than China. 

We know Buffett is invested in Japan, and I think I covered that on April 11, 2023: 

Trading Into Earnings Season, Bitcoin hits 30k, Buffett Invests In Japan, Silver


Related: The Chinese vs Japan trade war heats up

Rishi Sunak to unveil semiconductor partnership with Japan www.ft.com


Looks to me that there is a battle being waged for who is going to control the New World Order, and AI, which the globalists no doubt believe is the means for control.... Scary times, indeed! 

Walmart 

Walmart just came out with earnings, and that one continues to test the all time highs. 

$WMT - I haven't updated this chart in several months, but to be honest, the price action doesn't give me the warm fuzzies. 



Keep a close eye on the $VIX tomorrow, and over the next couple weeks, because there's a good chance that we're going to see volatility return, when that debt deal turns sour.  

Take Care, AA 


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