Will the Plunge Protection Team swoop in & save the day like numerical superheroes? Will they buy a bunch of index stocks at prices no one else wants, to keep filling up these bubbles with more hot air? Looks like a day that could use it.
This whole charade of a bull market has been bought by central banks & corporate share buybacks fueled by historically cheap debt. When they stop supporting it this way, the markets will crash & the everything bubble will most likely collapse.
King (for now) dollar is a little higher today, bitcoin stuck comfortably in that mid 6k range.
When the dollar is higher, even fractionally, I really like to see go gold go up at the same time. Why? Because gold is priced in dollars, generally when the dollar goes up gold goes down & vice versa. I believe gold is sound money & needs to be a much bigger part of our economy. Much harder for the bankers to create gold, though they definitely create derivatives to manipulate it currently.
Probably a good idea to pay attention to oil prices at this point as well. All the Saudi Arabia posturing going on could have a big effect on oil prices & the petrodollar.
US Bond yields started creeping higher again yesterday. If those yields spike, the whole game changes. A lot of Debt becomes unserviceable & stocks get much less attractive causing a flight to safety. Where will that safety be when the trend finally changes?
Here’s a link explaining the PPT if you’re unfamiliar, basically they rig markets.
https://www.investopedia.com/terms/p/plunge-protection-team.asp
Any predictions for where we finish today? PPT or plunge, we will see