Wednesday, June 28, 2017

Central Banks Exert Control By Boosting Prices Day After Huge Declines

As mentioned in the opener of yesterday's post, forget about trying to apply fundamentals to this market. It is hopelessly rigged.

A commentator on a message board elsewhere explained the phenomenon of yesterday's jawboning-inspired selloff aptly. To wit: it's a charade by the central bankers to provide an easier entry point for which to make even more money boosting overpriced stocks.

Ergo, today's whipsaw. If the reader has half a brain, no further explanation is necessary.

There will be no crash until deemed useful for the central bankers in charge of the stock market.

Cynical? Yes. On the mark? Likely.

At the Close, 6/28/17:
Dow: 21,454.61, +143.95 (0.68%)
NASDAQ: 6,234.41, +87.79 (1.43%)
S&P 500 2,440.69, +21.31 (0.88%)
NYSE Composite: 11,812.80, +95.88 (0.82%)

No comments: