Seems very manipulated. The trend is clearly down but you have sharp spikes to hammer shorts:
0.75% rate hike this month and another 0.5% before year end not yet priced in. Sharemarket tried to sell off but couldn’t. It got to 3,890 and reversed.
Not manipulated but sharemarket can’t do what it expects it should do.
I don’t believe the ‘forward looking’ narrative. Maybe this is how the next ‘black swan?’ Event is created?
Everything hedged, market can no longer sell off to price in rate hikes and instead creates short squeeze after short squeeze by error. This gets us higher and higher then at some point rates and data look so bad people assume cuts and QE are coming which creates FOMO over these short squeezes and the entire thing goes bananas before and epic black swan collapse?
That’s my another of my short stories of total BS that won’t happen.