Why the market PLUMMET on Friday ? and Big Money DUMPING
@NJC:
The SP500 dropped by over 2% along side other main indexes despite multiple big banks earnings beat on Friday pre market. This is because of 1 main reason and a few sub reasons. It started on 13/10 thursday, CPI m/m came out as a beat to the upside and the market dropped by around 2%. Then the FED minute came out and the market narated it as a 'good' news which surged the SP500 by around 4%, although many disagrees with this narative. In my opinion, the market naration of 'good' news from FED minutes was just to give an opportunity for big money to exit which I will back this point up at the end of this writing with the most recent VIX movement. (13/10 made the market euphoric). Then on 14/10 which is Friday, UoM inflation expectation came out and it was at 5.1% which is a relatively big i