Over the last 7 years I’ve repeatedly warned that we no longer have free markets. Governments figured out in 2011 that if they could artificially inflate the stock market they could delay the normal business cycle. This ushered in a new age of market manipulation. Anyone who doesn’t factor this into their analysis is going to sorely under perform or lose money.

Now the Nasdaq is at a crossroads. In a natural market there is no way the index breaks through the all-time highs on its first try. It’s simply way too late in the daily cycle and sentiment is way too optimistic. In a natural market we would experience a profit taking event at this juncture.

But if the powers that be want to prevent that natural correction,m the easiest way to do it would be to manufacture a breakout right here and abort the natural profit taking even that should occur. This would have the potential to create a runaway move into the elections. We should know in another day or two if this is happening.