Manipulations Will Work… But Only For So Long

By Graham Summers, MBA

“Someone” saved stocks yesterday.

The day started with the S&P 500 breaking below:

1) The 200-DMA (red line in the chart below).

2) The October lows at 4,223 (purple line in the chart below).

3) CRITICAL support at 4,200 (blue line in the chart below).

This happened as the yield on the 10-Year U.S. Treasury breached 5% for the first time since 2007. As I’ve noted before, a close above this level would induce a collapse in risk assets, including stocks.

That’s when “someone” or “someones” MANIPULATED the stock market, by PANIC buying stocks, forcing the ENTIRE MARKET up by 35 pts in the span of 40 minutes. From that point until 1PM, every single dip was bought with PANIC buying.

How do we know this was manipulation or an intervention?

NO ONE panic buys stocks the moment they break below critical thresholds. There isn’t a single trading shop or trading team in the world in which the head screams “GO ALL IN ON STOCKS” as soon as the market violates a critical level of support.

In the simplest of terms, the manipulators staved off a crisis… for now. But the fact remains that the U.S. Treasury bubble burst in 2022. And the crisis is now approaching.

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Posted by Phoenix Capital Research