20 May 2015

SP 500 and NDX Futures Daily Charts - Transparency Games

"Hiding behind opacity, bankers rig the global financial markets for their personal gain. Today, seven large banks paid over $5 billion in fines for rigging the foreign exchange markets. These were the latest fines for bad behavior.

However, just to show that these fines will not change their bad behavior, yesterday a survey was released in which 1 in 4 bankers agreed that, hiding behind a veil of opacity, they would engage in illegal activity if they could make at least $10 million dollars.

In my book I show a solution for restoring transparency and ending rigged global financial markets."

Stocks were floundering most of the day, but tried to rally up through overhead resistance again off the Fed minutes which were released a bit early.
Alas, a rally was not meant to be.
Stocks feel a bit heavy here, and vulnerable to exogenous risk shocks of even a relatively mild kind.
Valuations of the big talk momentum nifty stocks are almost incredible. 
A few more of the career criminals, aka the Banks, were spanked lightly today for rigging yet another important global financial market. 
Let's see what tomorrow brings.
Have a pleasant evening.