Market Response To Negative Data Glut: Serrated Edge, With FRBNY's Brian Sack Rushing To Scene To Cauterize Bleeders
Update: LOL - Intel is now up after cutting guidance. We are done here. Central Banks of the world: market is sold to you.
Brian Sack of the Fed's Plunge Protection Team (in collaboration with Chicago-based dark pool entry points) loves no volume melt ups:
What do you get when you flood the market with an Intel downward guidance update, a disappointing money printer dictate, and a drop on consumer confidence? In a word - total market insanity. Risk is now moving straight line up or down: the AUDJPY (and its derivative the stock market) has lost all semblance of normalcy and is now up or down in 30 pips increments with no rhyme or reason, as dogs and cats chase their respective tails, in what can only be defined as a perfect sawtooth pattern. Have fun trading: Brian Sack will gladly be on the other side off all your sell orders.