Market Levitating Just Above 200 DMA, Gold Stopped Just Fresh Of New All Time High
Who knows what would happen if the algos did not have the entire market in a binary vice: maybe after week after week of every louder double-dip news the 200 DMA could actually be breached. It won't, just because everything is so fair and unmanipulated, and the market can't wait to bounce after a horrendous payroll, initial claims, retail sales, Philly Fed, and other numbers that now scream double dip. It's ok, it now takes computers about 5 milliseconds to "price in" any and every disappointment and never look back. Also, gold rose as high as $1,251.25, before the LBMA put the brakes on and prevented a new all time record breakout at $1,252.25. The stage is now clear for Hal to ramp stocks vertically, even as mutual funds likely see another several billion in outflows this week.