17 thoughts on “CHART OF THE DAY

  1. Michele B

    Are you suggesting the FED buys the market indices? How? Through the futures market? What evidence is there that the FED does that? Is it not vetoed by FED statutes to manipulate the equity markets?

    1. MuffinBottom

      sure, the FED controls and manipulates everything, even the market-moving news coming out of Greece

      and don’t forget, the “Bullion” Banks control the direction and price of gold and silver

      as long as you understand that, you’ll have no problems understanding the manipulation conspiracies that abound in such reports and in King World News and other sites

    2. Tom


      No, the Fed does not buy stocks or futures. However, the government certainly has the control and power to administer such procedures in times of extreme crises (such as a crashing market) like the current Chinese market.

      Once in awhile Gary will spout PPT or “Fed has your back” notions. He is simply alluding to the fact that in a virtually zero percent interest rate environment, individuals and institutions really have nowhere else to put money other than in equities which drives up the prices of stocks.

      The PPT (Plunge Protection Team) was created a long time ago to only help in extreme stock market crises. Most recently they were used in 2008 to help cushion the fall in US stocks.

      1. gary Post author

        Interest rates aren’t at 0 anymore. They’ve risen considerably in the last several months. There’s not even any question whether or not the PPT has been intervening in the market since QE3 ended. If they hadn’t the S&P would have followed the transports and European markets lower. They would have deflated just like they did after QE1 & 2 ended.

    1. gary Post author

      If there is any shred of free market left then the market should turn and head back down into the normal ICL once Greece fails to make its next payment on July 20.

  2. Frank

    What the hell. I think the markets are about to drop like a stone. After the recent up and down action, a wave 2 triangle, I think we are about to enter wave 3 of 3 down. Cross your fingers.

    1. Jay

      Would be nice to see a normal correction, but we haven’t had one in literally years. 🙂

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