Hidden in plain sight, even though the U.S. Government prefers to be tight lipped about it, the plunge team which I have been referring to as the invisible hand for the past three years, is born out of the 1987 Crash.
The team is formally known as the Working Group on Financial Markets. It was created by Executive Order 12631, signed on March 18, 1988 by President Reagan.
The decision point, 200 EMA the weighted moving average. We are in a consolidated pattern here for 9 days. The technical signal that was used for a change in direction and confirmation was the 200 Moving Average. This was an institutional traders key to seeing directional change in the long term. When the price was…
S&P 500 Emini Futures gapped up 3 points this morning, the expiration day for the June, 2009 contracts.
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