by Andy Hoffman, MilesFranklin.com:
It’s another eerie day of market “management,” 24 hours before yet another “all-important” FOMC policy statement. No chart sums the “pre-FOMC smokescreen” better than the one below, which unfortunately I haven’t found an update of since it was initially published two years ago. However, I did the math myself, calculating that an additional 68 S&P 500 points – averaging 0.3% per trading day – have been added in the days prior to the 18 FOMC meeting announcements in 2012, 2013 and 2014. In other words, since the PPT – i.e., the “President’s Working Group on Financial Markets,” started working 24/7, by my observation following 9/11, nearly all of the S&P’s cumulative gains have occurred the day before FOMC policy statements. Such a statistical aberration is easily “sixth sigma” in nature, attesting to the level of “strategic importance” TPTB place in Fed misinformation.
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