The big players (with Fed backing) can easily manipulate the market any way they want—particularly on a given trading day.
They will decide what happens today by the close—and I have no clue what they will decide.
I absolutely agree about that. I have no doubt that the Fed has tools and methods to manipulate the market in secretive ways that would astound people. They didn’t hesitate to rack up a $9 trillion balance sheet, which just goes to show how far they will go intervene.
Everyone has talked about the existence of a Plunge Protection Team for a long time. I for one have never doubted it but I also assume that it doesn’t take a plunge to initiate a Fed response to various other market disturbances and conditions.
The Fed pretty much does whatever it wants. JMHO
Powell is speaking today. He’ll probably throw the market a bone so my guess would be the market will close somewhere above the present level. We’ll see.
Can anyone delineate where the FED ends and the NYSE/S&P/Nasdaq begins? I'll wait...