For just about everybody, the interpretation of wholesale financial transactions are described and explained with a storyline. There is a narrative that goes with the measurable outcome, having the concinnity of market anonymity.
Relying on the concinnity of anonymity, you might be right half the time. To describe and explain the discrepancy, technical analysts look at patterns of support and resistance against relative strength. The objective is to know the reality of the TI (the Transactional Interpretation, like when quantum mechanics quantifies yield without really knowing what actually causes it). Again, remember, measuring relative strength also measures relative weakness of the argument.
Analysts always consider the limitations of the data. This effectively interprets the data to be right more than half the time (describing a causal relationship–its relative strength) until (like market analysts say) “it doesn’t.”
A lot of the ambiguity has to do with market anonymity. One of the things an analyst wants to know, then, is who is buying what when; and the best way to defeat that is to make it look like you intend to buy something when, really, you don’t (i.e., you’re just telling a story). This is called “spoofing.”
While fraud is not new to capitalism, with the GLBA and the CFTMA, the means to do it has been modernized (“brought”–or networked–“to scale”) so that spoofing, one way or another, explains what is going on more than half the time.
Since theft by deception is a crime, spoofing is technically illegal, but it still happens all the time, hiding in the concinnity of anonymity.
Barclays, for example, was essentially caught spoofing, but because of the anonymous concinnity of market mechanics (becoming a standard business practice since the means have been modernized for efficiency) it is more like a civil liability. Anonymity must be maintained to produce legitimate results since, without it, the results look like fixing the market rather than being the product of predicting its probable direction, which you are not likely to get right more than half the time.
If it’s not broken, the “best and the brightest” among us know how to fix it!
Keep in mind, if you are retired and living on a fixed income, you are getting a real negative rate of return on your savings while TBTF banks are using your money (which, like Phil Gramm says, is considered to be “their” money) to “make” a profit utilizing the value of anonymity to fix it.
(Yes, there is a Bernie Sanders rally ready to happen near you because, the fix is in!)