MF4: Don't fret yet. SPY is down a little in after hours. Over the past 2 weeks the market has tried about 6 times to get the S&P up and over that pesky 1333 level of resistance. Even with overnight futures walk ups, wide upward opening gaps and POMO money in the afternoons to halt the downturns the cabal has not been able to overcome the selling. The cabal would like to induce more sheep to the party so they can offload their positions into strength. But so far the rank and file investor has resisted or is out of capital. Todays action was typical. They walked the futures up overnight, we opened with a gap up higher, then the 'rally' faded and at one point the DOW was down about 30 points. But now the cabal is trying to hold the 50 day MA....so they engineered a late POMO money buy-in toward to close to end the day with the S&P right at the 50 Day....1314. Cooincidence?
Not hardly. Just more evidence of how thay manage to manipulate on light volume trading. They won't give up and they have Bernanke's fat fingers to create money with his keyboard. But their game might be getting long in the tooth. At this point the cabal would be best served by allowing a big rug pull that takes us down 20%. Of course they would have shorted before the rug pull, then they can use the market drop to justify a massive QEIII. The big banks can never have enough free money from the Bernank.
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