A ‘Perspective’ Update

I was bombarded at the end of yesterday’s U.S. “market” session from colleagues asking me to, “Please explain today’s market, because we we’re up then down then we skyrocketed into the close, why? None of it made a bit of sense, especially the end of the day. I mean, the news with Russia is getting worse not better! Any thoughts?”

Here was my answer: “Look at at the calendar, and tell me what day it is. You’ll answer your own question.”

What I’m insinuating here is what I’ve always stated one must fully incorporate into their thought processes regarding any market, let alone, these “markets” which is…

Regardless of what is going on in the world that is clouding the mind of the populace and news media. The people that are reliant on getting their paychecks (aka Wall Street) are single minded, laser focused, fully acute to do what ever it takes to push whatever little gas is left in any tank to make the best possible run available to end said month at the best place possible using any and every tool available to accomplish that single objective. For if it can be done – it will be done – because their paychecks depend on it.

Call is “St.Cyr’s month end mantra” if you wish. Because it’s as sure as water will leave a rock wet.

What I want to add to the above is also what I’ve been diagramming and pointing out using my “Just a bit too technical” perspective. For today’s “market” action both in the overnight as well as this mornings before the U.S. day session begins seems to be, once again, confirming my hypothesis in spades. To wit:

(Chart Source)

The above is the S&P 500™ futures via 15 minute intervals as of ~7:00am EST as I type this. What I want to draw your attention to is the arrow and level it represents. It would appear that the latest attempt for any “ignition” higher failed precisely where one would think the machines would try their best to rise above since it’s what “markets” love best: Big round numbers. And 4400 is is that category.

So, as the insinuation implies, it would appear there are no big stops or other “whale food” for the bots to enjoy and feast upon as has been the routine for now nearly a decade.

As always we shall see. But that’s an observation and perspective idea that I beleive needs to be paid attention to.

As always, we shall see and I’ll discuss it more in depth and the possible ramifications on today’s show.

© 2022 Mark St.Cyr

Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.