Speechless

It seems as if the market is ignoring the weight of Bullard's words, there isn't a chance as we know for sure futures didn't...

ES right after Bullard said...

BULLARD SAYS MARKETS DON'T APPRECIATE HOW CLOSE FED IS TO GOALS

BULLARD SAYS HE'S TRYING TO PUT EMPHASIS ON CLOSENESS TO GOALS

BULLARD: MARKETS SHOULD BE PRICING IN RATE INCREASES BASED ON WHAT THE FED SAYS

 BULLARD: ECONOMY SHOULD BE ABLE TO HANDLE IT IF WE BEGIN TO PULL BACK FROM WHERE MONETARY POLICY IS NOW

However after the initial dump, it's almost as if that exact same zombie-like smolder move higher that we saw yesterday just took over again and went exactly where I said it had to go yesterday to build a larger base to bounce from or to consolidate losses from Tuesday.

Right back to where I expected a pullback to, even more ironically...

In yesterday's Daily Wrap, I said that all of the averages had 1 & 2 min negative divergences and we know that the market and 3C almost always pick up where they left off the next day, look at these charts...

 SPY's 1 min negative turned as if it were right on cue with the divergence, although a bit sharper, almost as if someone had known what would be said this morning.

The same with the 2 min charts, remember, these divergences were in all of the averages.

Look at the Q's divergence from the close...

Yesterday's close (red box to the right).

What's strange now is a lot of charts are almost exactly in line in the 1-5 min area, it's very much as if this is a Wall St. set-up and run cycle  (the last day and a today, perhaps Tuesday as well).

QQQ 5 min almost perfectly in line.

I'm still looking around as this looks like a Wall St. sponsored cycle, but what it's point is... that's another matter. 

In any case, with the F_E_D, Bullard, just having come out and point blank telling the market, "You are WRONG! Save yourself, this is your last warning!!!"

Something is obviously going to break, I'm just saying smart money has been front running this a lot longer than this morning.