From 11am to almost noon today, the Fed bought bonds from the banks, giving them the cash they needed to plug the holes in a sinking ship
So by noon, the massive sell-off in the U.S. equity market was over
Then with the remaining cash, the bankers pulled a bull raid in the final 25 minutes to try to end the session with the appearance that the public selling was over
They just don’t get it. Market intervention doesn’t work
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