I agree and I'll touch on that in a minute.
Also, oil is going to pump higher (which it did) when rate cuts were posited. Higher oil is higher inflation. What we've told everyone for a long time (those that listen not follow the Insto controlled media).
Yes. And the many new investors which haven't experienced a reversal will be holding or buying all the way down until they can't.
-------
What an interesting market. Massive push followed by a 50%+ drop by the final bell of the move during the session. I wonder who sold all their stocks to create this outcome. *S*
As pointed out by others previously, Powell can't cut rates this close to an election without being labelled as a political motive or SOMETHING IS MAJORLY WRONG. The Insto mates have forced his hand in playing the markets.
The BLS numbers are way too low to be believable. With retail numbers due soon, proper information is coming out which will plummet the markets. Major revisions next week or once THEY have sold out.
These two items together have created false euphorbia and played the markets. Instos needed buyers.
I hope there have been many people following the movements on other essential commodities such as food. Some of those have plummeted over the last couple of weeks individually. This hides the moves well. Demand destruction and those in the know are following this info and not the fudged numbers.
(20min delay)