28 June 2016

SP 500 and NDX Futures Daily Charts - Risk On! - Gamble, Gamble

It was damn the gloom over Brexit and full speed ahead, led by the SP futures which remain the tool of choice for those who wish to drive the markets here and there, particularly in periods of low volume/genuine commitment to just about anything.

The markets are broken, given over to manipulation and corruption. And those who continually point the finger at manipulation by the government are really missing the whole point of the need for reform, and too often willfully so.

The financialization of the economy has turned 'the markets' into wealth transfer mechanisms from the public to a crooked and corrupted few.

Let's see if this was a real turnaround or merely a dead cat bounce.

Nike was down sharply after hours on real world things like earnings and revenues.

Have a pleasant evening.