Up Up & Away Said The Bubble Boy – S&P500 Futures Update (FAS)
Blah blah blah. Blah blah blah. You know what i really do not even have anything negative to say today because all my readers know what i would say so just fill in the holes. I am going to talk about levels which seem to be the only thing that makes any sense in this god forsaken market which is filled with our tax payer money. Up up and away said the bubble boy. We opened today at 1172.25 traded down to 1169.50 before the falling knife was caught. 1178 was mid morning resistance, 1181 is the afternoon session high. As i type this we are resting on the 1176.75 support. 1178 proved to be a sticky number this afternoon.
I tweeted yesterday stating value investors are in no way buying up this market, almost a trillion dollars has
been pulled from mutual funds, retail trading volumes have fallen off a cliff, major I bank prop desks are being shut down. Retail prop desk arcades are folding left and right. Ask yourself, “who the is trading this market” I sure as i am not. This market is not a market for a trader, this market is for the ignorant trader who buys and never sells, you are aiding the machine who rapes your orders to manipulate this market higher.
UPCOMING POMO DATA