Stocks pulled off a strong push higher into the close yesterday, taking back much of the losses they had been showing during the daily trade.
It is reported that we are in the 13th week of the selling of US equities by the ‘smart money.’
Notice how nicely and neatly this ramp higher has been moving in the SP 500 futures just below. I suspect that this is an operation designed to hand off equities to the ‘non-smart money’ ahead of another sharp decline in equity prices. But only time will tell. The big tickle tonight will be APPL reporting its numbers after the bell.
It is hard to handicap these markets with the lax regulatory oversight, the generally poor quality of the numbers not only from the trading feeds but also the corporate earnings reports. So let’s try and lean a little harder on the charts.