sp'daily5
VIX'daily3
Summary
US equities opened on a positive note, but the gains were shaky from the start, with the SPX quickly reversing to test giant psy'3K. From a print of 2999, the SPX swung upward to 3049, seeing increasing chop, with a cooling wave to 3032, and renewed closing upside to settle at 3053.
Volatility was itself relatively subdued, the VIX settling -8.5% at 31.78.
Conflict of interest
Yours truly has always had issues with mainstream financial TV. The literal 'cheerleaders' - not least the Cramer, Eisen, and Liesman, have always been supporters of the central banks.
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| The Cramer... now partly funded/supported by the Federal Reserve |
The press release from the NY fed has clarified Print Central is now in (financial) bed with some 794 companies.
Full list: see: https://www.newyorkfed.org/markets/secondary-market-corporate-credit-facility/secondary-market-corporate-credit-facility-broad-market-index
Specifically, hit the link for 'June 5, 2020' which was actually posted/released Sunday June 28th.
A few notable mentions...
From hereon, whenever any fed official is interviewed by CNBC (owned by Comcast) or FOX Business (owned by FOX), there is a massive and obvious conflict of interest.
I'm guessing the mainstream cheerleaders on CNBC and FOX business will refrain from ever acknowledging this.
Ohh, and...
... its pretty incredible to see the Fed are now an owner of corp' bonds/debt in tier'1 miner Newmont (NEM). All that is left is for the fed to start buying the equity, and you know dear reader... that is just a matter of time.
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| Full moon... July 5th |
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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