What a difference a day makes! Yesterday (that is, Wednesday) the market went straight up all day long, without a single downtick, and the reason was………..
So………an investment bank, which has every reason in the world for stocks to go UP, told the world to BUY stocks because of a “whisper number” they made up, since the number in question wouldn’t be distributed until the next morning. Yet this nation, saturated as it is with Philistine pig-ignorance, gobbled it up like mad.
After the absolutely shit-show on Thursday, a different “whisper” was announced.
What’s with all the whispering nonsense, people? Even when the ACTUAL number is released, people don’t know what to do with it! Take one look at Thursday’s intraday action, and you’ll see proof of that. Trained astronauts would have still vomited at the convulsions that were thrust upon investors.
The good news is that, thank you JESUS (or, I guess, J/ESUS), the resistance line on the /ES held fast. Oh my GOD that was close.
Likewise, thank GOD, the resistance on the /RTY held.
The cool thing is that my beloved premium members got a post BEFORE the market puked all over the place called Repulsive Path, in which I offered this wild-ass guess about the small caps:
So far, so good!
In closing…………..remove your hats, please, and salute the Fed.