Diagonals are 5 3-waves which fits this pretty narrowing pattern. They don't happen often so I did not want to bring up the potential, but there it is right before us. I am covering my long futures that I used as a hedge, and will short futures on a 2-point break of the lower trendline. The measuring point for the down move on trendline break is 1085. Sounds like a lot, but that's what a diagonal does.
Are you of the mind set that the FED and the US Government actively buys equities? They rally the market.
ReplyDeleteOr do you see that as impossible as they too at some point would have to cover and thus help in crashing it?
Or is the idea boom and bust and so buy and then at a chosen point sell out at their created top. Or do they not need to cover as it is only fake money they are spending and thus can run it forever.
Prector says 'no manipulation' Zerohedge is all about manipulation.
This is just an opinion, but I think that a Plunge Protection Team exists but only operates during a meltdown. The flash crash happened very quickly and was bought back up to where it started by the close. PPT could have been in there. My view on manipulation is that it occurs via fiscal and monetary policy and that it is taught in the Ivy League curriculums that churn out our future government leaders. "You can keep prosperity going forever 101".
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