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Monday, July 31, 2023

Weekly Wrap-up Update 7/31/23 - Blatant Market Manipulation Continues

Hope you had a good weekend; I sure did! 

Weekly Wrap-up Update 7/31/23 - Blatant Market Manipulation Continues

Friday's action: 

The manipulation we witnessed on Friday, takes the cake.

As I told one trader the manipulation has become blatantly obvious! 

I'm getting better at recognizing how the powers that be are using moving averages to drive AI programs, but it can still be a little difficult to predict. 

$VIX - 60 min view 

You can see where the $VIX was hammered below support using the same 60 min. chart view  

As it turns out, my fears that the $VIX may continue to gain some traction on Friday were unjustified, and in hindsight I should've know the bulls were NOT going to sell tech stocks on the last Friday of the month.

$INTC earnings were pumped as expected, and Friday's action made sure that the powers that be, got paid on their weekly call options.

In fact the first thing the powers that be came in and fixed the charts first thing Friday morning, by driving the price action at the open, back above the 50 ma, on the 60 min. charts. 

When you're able to rig the options market for months on end, you don't throw in the towel on the last Friday of the month. Now there's a Statistic to check; how many last Friday's of the month end on a sour note? I'll bet very few..!

All you have to do is take a look at weekly/ monthly views  candlestick chart of the $VIX and you'll find the answer: 

$VIX weekly candlesticks - not even 1 bullish hammer candle since April 2022! 

The Dash For Trash Continues 

I should've realized that the dash for trash would continue, as we saw $YINN (3X leveraged China) up over 15%! 

I didn't see any coverage of the rally in Chinese stocks, during Friday's trading session. 

In hindsight the money they made squeezing the short sellers of  Chinese stocks, they were able to put to work pumping names like Intel, and $ROKU (up 25%). 

I really should've known the market would continue to be rigged into the end of the month, and that US markets were going to be lifted by Chinese stocks.  

This is the whole point of sending Jamie Dimon, and Janet Yellen to China.  

In fact I think the powers that be are more concerned with making China great again, than the Divided States of America.

These people call themselves "liberals" but they've actually hijacked that term. They're straight up fascists' 

Social Injustice, Poverty, Militarism, and Disenfranchisement
Why Liberals Love Dictators 101

Eye opening read; but I digress 

The market has recently entered dangerously overbought territory, on overly bullish sentiment. 

The day of reckoning is coming, and that could be some time in August, as I warned on June 2nd:

 "...if the market continues to hold up on light summer volume, we may not see much of a sell off until August..." 

Take Care, AA  

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