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The stock market is very predictable in its Fed obsession
A frustration of dyed in the wool gold bugs is that a debt soaked system moves forward on little more than the confidence that all will remain as it has been. This confidence focuses on the Federal Reserve and it’s ability to inflate the system when needed.
But the flip side of that ‘in the Fed we trust’ mindset is the very real fear instilled in market participants (and implied fear programmed into their machines) when the Fed is forced by the very inflation it created to attempt to destroy its inflated Frankenstein monster at all costs.
Jesus H. Christ on a pogo stick, what a horrific psychological travail they put us through to get here. Look at these index charts and be amazed. Today’s HIGH matches, almost to the hundredth of a point, the LOW from last Friday. In other words, the mayhem of the past four days merely served the purpose of CLOSING THE GAP, and now, bang-bang, we rock again.