Markets in the short term in the US are the hunting preserves of the proprietary trading desks of the Wall Street Banks and large hedge funds. No place for amateurs.
This is a major impediment to financial reform and economic recovery because it imposes a heavy tax on the productive economy, and produces a misallocation of capital and malinvestment in unproductive financial instruments and pyramid schemes.
Both the Democrats and Republicans serve their special interests and different monetary masters, and not the public. The news presented by the financial media channels is heavily nuanced propaganda.
SP 500 December Futures
Trading range between 1080 and 1115 with uptrend intact.
Nasdaq 100 December Futures
Trading range between 1760 and 1810 with uptrend intact
US Dollar Index Continuous Contract
Still maintains the patina of a safe haven, although some of this is a natural technical reversal in the carry trade.
Gold February Futures
Correction driven by a series of heavy handed bear raids led by a group of banks that are holding undeliverable short positions.
Profit seeking sellers do not step in to a market and pound it lower with concentrated selling. Open Interest is the 'tell.'
