Wednesday Show Note

All I’m going to say about today’s “market” action is this: It was all a bit too technical, as well as predictable.

All I will add to the above is: So much so, it’s still, all a bit too eerie.

I have been discussing at every “big number” juncture e.g., 4200, 4300, 4400 et cetera that “Wall Street” (by implication meaning the algorithmic bots) loves pegging them. And today, which for all intents and purposes was a Quarter Ending day, even though there’s still tomorrow, as I’ve explained before because of different aspects like “Assignment risks” and more.

So, how did we end today as we’re still on the precipices of a possible WWIII earth shattering apocalyptic future? Great question. To wit:

(Chart Source)

And for those that may have a knee-jerk reaction thinking I put up yesterday’s chart by mistake? Nope. You are precisely where you were then.

As a matter of fact, today the headlines were all about how the so-called “cease fire” discussions and were nothing more than rumors for then Russia was reported to be taking even bolder positioning for even more aggression.

And what did the “market” do? Hint: See above, aka “Mission Accomplished.”

What happens from here is anyone’s guess. However, with that said, what needs to now be front-of-mind from this moment forward – is there is no “market” event within the next few weeks, until earnings season starts in earnest, for the bots to front-run further or into.

The “market” as they say “Is now left to its own devices.”

As always, we shall see.

© 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.