"S&P 500 Closes At New All Time Highs", "$SPX Closes Above 6300" - the folks at CNBC are either trying to make the market sound more exciting, or they're trying to help the hedge funds offload their shares to the poor retail investor. I'll let you decide...
Fun Facts concerning the Lame Stream Media of Mass Distraction:
These 6 Corporations Control 90% Of The Media In America businessinsider.com
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| Business Insider Infographic |
The 11 Richest CNBC Anchors moneyinc.com
Hey, something doesn't add up here!:
#11 Brian Sullivan
No wonder he always looks so happy!
Hey, did you hear the news that only 7% of stocks are trading at new 52 week highs?
No, these are not the media companies that control us - leading the market higher - but the big tech companies who seem to have taken their place. Just compare Viacom, and Disney's stock to that of Google, and Facebook... but I digress.
More recent headlines:
Banking giant updates S&P 500 end-year target
In a Monday investor note, the banking giant projected the benchmark index would end the year at 5,600. This target suggests an 11% decline from the current value of 6,335.
Did you catch that!? They raised their year end target to 5600! 😕
Here's another good one:
Goldman Sachs Raising Price Targets on 4 Stocks That Could Explode Higher 247wallst.com
Of course Goldman Sachs doesn't work for free, any more than Jim Cramer does, so you should already know this is exactly what I talked about in yesterday's update. The smart money unloading their shares to the retail investor.
I decided to chart a few of these names, and what I found is noteworthy.
1. Amphenol $APH - (tech) 2 consecutive Doji reversal candles spotted at the upper part of the range.
2. Jabil $JBL trades back above the top of the top of the range. This one could consolidate above the 210 level, for some time, before it comes crashing down.
3. BorgWarner $BWA - this one topped out in 2014, and now we see it trading into a bearish H&S pattern. If it breaks out here, it could squeeze the short sellers, but I wouldn't hold my breath...
Call me a "cynic", but I don't believe any of it.
Be sure to catch the previous update, where I include several charts and make a stunning prediction!
Take Care, AA
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