Wall Street experienced its most dramatic surge in two weeks for 27 months, the weekly balance sheet is staggering for the Nasdaq that literally explodes from 7.6% (its biggest gain since mid-July 2009!)
The Dow Jones flew from 1.45% to 11.644Pts, the ‘S & P of 1.75% (it is beyond the in extremis 1220) and the Nasdaq 1.82 % to 2.668Pts).
The willingness to take the indices to the highest of the day, week and month of October is obvious: the great flood of resistance monitored by the stock charts was obtained in the last quarter of an hour (in whenever such for 10 days) and even more specifically at the end of the last 3 minutes.
It is the oil services which soared: there are no fewer than 15 among the 20 highest increases in the ‘S & P-500′ … and the securities industry grew massively from 5% on average! This kind of increases ‘opportunistic’ (or steep drop-offs) that trigger signals techniques ‘last minute’ are highly suspect and betray the most manipulative strategies.
It is clear on Friday that the ‘final sprint’, which carries all the resistance-is linked to the justify any news (not even a little ‘rumor’ used as an excuse to put in their mouths). Relapse of the index stress ‘VIX’ under 30 then to 9:55 p.m. under 29 also appears to have been orchestrated. Difficult indeed to say that the figures of the day formally dismiss the scenario of sluggish growth in the fourth quarter.
Wall Street has clearly marked the blow to 4:30 p.m. when the University of Michigan disclosed a fall of -1.8 Pts index of consumer confidence in the United States in early October (to 55.7, which was twice as high that ‘expected).
The indices had however been doped at the opening by the number of retail sales in the United States plubliés to 2:30 p.m.: the increase amounts to 1.1% in September while the consensus is for 0.7% (in the retail sales climbed 0.6% excluding also automobile, which was two times better than expected).
