North Korea’s whack-job dictator has reportedly lobbed a missile over Japan, causing index futures to plunge Monday evening. So far, DaBoyz are acting almost as crazy as Mr. Kim, treating this unprecedented act of aggression as a buying opportunity. They’ve pulled their bids, allowing stocks to fall steeply enough to discount any outcome short of Armageddon, and now they are actually effecting a bounce to unload shares they bought on the news. Kim Jong Un-sane will get much of the credit if it turns out that a bear market has begun. But this is not how the stock market works. As long as the delusion persists that Wall Street fears North Korea, stocks will remain vulnerable to a sigh-of-relief rally when Kim backs off. That’s how bull traps are set, and it is what I’d suggest that you look for.
Traders Pretend to Panic as Kim’s Missile Streaks Over Japan
- August 29, 2017, 4:16 pm
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August 29, 2017, 9:51 am
2nd OPPS process on Several markets since 08182017.
OPPS is when a market opens higher/lower trades higher/lower (near a 20 trading day high or low) and then moves under/over the day ago close or extreme high/low by 1 tick, this triggers OPPS.
———Its important to note when OPPS takes place as a reversal process in several markets that CIT (change in trends) are at hand.
The date and time of fat boys play is interesting 08/28/2017 a 8+2+8= 18 day or 666 day,
Cleaning the deck as Rick suggests looks real at this time. Cleaning the deck on the way up should be observe as the trap.
Notice TYX not confirming yield move to the ZB higher high, these are CIT statements.
As, TYX high 3.197 12/16/2016 and TYX high 3.201 3/10/2016 towards lower ZB print low. The tight long term trading ranges in inverse markets should note a CIT to the lower levels.
The cast is set, we can observe at the last 2 highs in SPX/INDU having lower highs in yields, leading the way for a liquidity issue. As, the last bull trap from 05/2006 to 06/2007 double yield high as the price advance was wipe out in just a few hard down weeks.
The bull trap here from its double yield high of 06/2015 price level SPX/INDU ‘trump low level’ will do the same.
Inverse markets have now a chance toward their 20 week low levels and should be watch and observe very carefully as the bull trap in the financial sector deepen well beyond belief.
FOBAR.
Nice to see you tracking Bitcoin, Rick.
…..It’s certainly a conundrum.
Is it the revolutionary tool that finally takes the Banksters down once & for all, or is it the trap to enslave us all???
Personally, I suspect both, but only time will tell.
Blimin’ interesting subject, whatever.
Would be interesting to hear the thoughts of some of the old faithful RP followers.