The SPX printed another new historic high of 3861, if settling +1pt (0.03%) to 3853. Meanwhile, WTIC settled -18cents (0.3%) to $53.13.
sp’weekly1b
WTIC daily
Summary
sp: With a new hist’ high, it was just another bullish day. The s/t setup offers a little cooling, before resuming upward to the 3900s. Indeed, upper bollinger is currently at 3922, and will be close to 4K by mid/late Feb’.
wtic: oil cooled a little, with momentum settling fractionally positive, and due to turn negative on Friday. Right now, even psy’ $50 looks out of range, as the main equity market is strong, and the dollar remains broadly weak. Big target are the 65/66s.
–
Looking ahead
Friday will see PMI manu’, PMI serv’, existing home sales
Earnings: ALLY, SLB, KSX
–
PF chart of the day
The computer holds a bullish target of the $781s.
Netflix, monthly
NFLX settled today -1.1%… a little cooling from yesterday’s historic high of $593.29. Monthly momentum has never been stronger, and the PF target looks viable by mid year.
The valuation is crazy, FPE 65 or so, but the company does seem be set to turn cash flow positive. Key competition from the mouse of Disney, but… there is room for both. Indeed, I’d expect the majority of those who subscribe to Netflix are also signed up to DisneyPlus.
—
Final note…
A few superb distractions from the insanity of ‘reality’ remain… ‘The Expanse’, and ‘Star Wars: The Clone Wars’. I’m into season’4 on the latter, and last night’s quartet (4×07>4×10) were unbelievable, for what is quality story telling.
Yours truly is pushing hard on Twitter. I need 20/25k followers. Right now… maybe 15/16k by year end. As I type… 10086, and climbing by around 450/550 a month.
Goodnight from London