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Wednesday, February 17, 2016 4:48:18 PM
Think about it, SPY moved sideways for most of 2015, finally rolled over in late August, gets to low 180's, bounces off low 180's to 200, tanks again to low 180's then all of a sudden we get a mega rally that defies all technical analysis. The whole October 2015 rally felt manipulated and fake, and that's because it was. The government stepped in and saved the market. They know the amount of damage it would do to the financial system if we had another 1929 style big collapse of the market, they don't want that to happen. They won't let it happen.
The October rally propped the markets up some, we chopped around through December, then in January air starts to come out of the balloon again and we end up back at 180 in the middle of January. Then we have an oversold bounce to 192. Then we tank again to 181, which brings us to last week. At that point we should have then tanked under 180, but the government stepped in to prevent that. 180 seems to be the line in the sand for the government. If we go under 180, the government's thinking is that then there will be panic and a big collapse of the market. Thus, the government pumps the market, which is why spy moved 10 bucks up in 3 days. It's artificial propping up.
Now we know, the government is prepared to prevent a real collapse of the markets, we just witnessed the power they have to move the market. All the big cap stocks that have been struggling for months suddenly rallied like crazy today, not the work of real buyers. Artificial manipulation from the powers that be. They have unprecedented power to control the stock market. After this week, no one will ever again question the amount of manipulation that can and does take place.
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