If you were tuned into the financial funnies on CNBC today, in the morning session you would have heard the market was up because of the effort announced last night by President Obama.
Then later in the day, there was an apparent tweet, from an unknown journalist in Russia stating that the “War Games” exercise was over.
Really?
How many times do they have to go through the same routine before anyone learns two things:
- None of these reasons are why the market was up today.
- This is the same script with any event they claim is impacting the market in a negative manner.
Each and every time one of these events gets the blame for a correction in the stock market, we get flooded with rumors just like today. We’ve heard at least half a dozen times already that Russia was pulling back. Why is this time different?
They’re not pulling back. This time will be the same.
The other day there was a rally in the market on news that a seize fire was coming between Israel and Hamas.
Now the seize fire is over like it is every time. So why would the market rally on news of a seize fire, when it’s not going to last. Because that was never the reason for a market rally in the first place.
Today the market rallied because it was ready to rally.
Just look at the post and video from last night titled “What does a rubber band have to do with the stock market”
The purpose of the title was to pronounce that we were at an inflection point and the market was either going to experience a precipitous fall or a relief rally.
The market chose plan B.
Find out what the next few days will bring to the stock market in tonight’s video.