The Central Banks are getting desperate. The interventions are so obvious now you’d have to be on drugs not so notice them.
On Monday afternoon, at 3PM “someone” stepped in to prop up stocks. They did it again yesterday at 10AM. These were obvious interventions.
How do we know this was intervention and not real buying?
Because no real buyer guns the markets 20+ points higher in a matter of minutes.
Real investors carefully try to buy stock without gunning the market higher. If the market explodes higher, you get a worse entry point.
Why are Central Banks desperately trying to “save” stocks?
Because the markets have lost faith in their abilities.
The Bank of Japan launched Negative Interest Rate Policy or NIRP two Fridays ago. Japanese stocks rolled over and crashed just one day later. They’ve since lost over 6%.
Consider that for a moment. The Bank of Japan, launched NIRP for the first time in history, and instead of exploding higher, stocks collapse.
Japan ALSO had to cancel a bond auction for the first time in history because investors didn’t want to buy bonds at negative rates.
The End Game has begun for Central Banks. Desperate interventions may push stocks higher temporarily, but the next Crisis has officially begun.
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Chief Market Strategist
Phoenix Capital Research