Tuesday, December 19, 2023

7 er 6 Stocks continue to drive Markets higher

 Yesterday's action was a prime example of how FAANG (by a different name (the magnificent 7) are being used to drive the Dow, and the $SPX, not to mention the $QQQ. 

Yesterday, we saw Apple pull  back slightly, on a couple negative news reports, and the market's answer to that, was to pump the other 6 critical market high fliers to the moon. 

Of course they're still using the same leveraged FAANG stock ETFs to help accomplish this; including ProShares Ultra QQQ - one of yesterday's top performers.

 $QLD ProShares Ultra QQQ - up 1.45% - Typical Monday 



$AAPD - the 1X Apple Bear - looks like it's being sold (short), for added leverage. 



I pointed out the same thing earlier in the year; and these leveraged ETF's have actually been used to

drive markets, in both directions since 2007, but this trend continues to ramp up!  

There's even a 3X NFLX fund which holds 8,384 shares of  $NFLX, and that was up a whopping 8.81% yesterday! 

$IX3XNFLX - up 8.81% on yesterday's pump 


Amazon is another one 

$AMZD - Leveraged Bear ETF - hammered to a new recent low. There's just no other explanation for why this chart is working so well. Manipulators gonna manipulate. 



Truly uncanny, and I could spend the entire day offering more examples... 

What else is new is that Stock Screeners are being used to buy the 20 day moving averages... 

Below is a good example from Barchart.com 

The 2 examples above are clearly contributing to the market bubble we find ourselves trading in.

This seems awfully short sighted, but as long as fast money is moving markets, these short term averages will continue to work.  

Take care, 

AA 






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