Looking ahead

Equities rebounded on Fed day, the SPX settling +41pts (0.9%) to 4395. Meanwhile, WTIC settled +$1.74 (2.5%) to $72.23.

sp’weekly1b

WTIC daily

Summary

sp: I would note last week’s close of 4432. If we can settle >4402, that’d make for a hollow red reversal candle (bullish), or if >4433… a bullish engulfing candle, which would give confidence 4305 is a secure floor.

wtic: oil printed $72.30, helped by the positive main market. Today’s gains were slightly more impressive when you consider the moderately stronger dollar. Multi-week price structure is a bull flag, offering a challenge of the key $77 threshold.

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Looking ahead

Thursday will see Weekly jobs, PMI Manu’, PMI Serv’, Leading indicators

Earnings: ACN, DRI, RAD, NKE, COST, TCOM, VAIL
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PF chart of the day

Computer has a pretty bullish target of the $95s.

I’d note that Brent is currently trading around $4 higher than West Texas. So… you could take off $4 from Goldman’s target to give $86 for WTIC.

Personally, any price action in WTIC >$77 would offer open air to giant psy’ $100. Whether that is before year end… or by spring 2022, I frankly don’t see as that important. I understand the s/t option players would take issue with that view.

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Final note

Yesterday I noted about C02, and related food/energy issues. This morning I saw this…

https://www.bbc.co.uk/news/uk-politics-58641114

As regime leader Johnson has already reached the ‘there is no need to be concerned/panic stage. Frankly, I wasn’t expecting this until at least late Oct/Nov’. If you’re not hearing alarm bells… you’re not paying attention!
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The Celente… ever more angry. Whilst I don’t expect you to agree with everything, he remains a crusader for liberty and freedom.
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Indeed, the media, and others will pay for what they have done. Sometimes… it takes years, or even decades for regimes, and their media lackeys to meet justice.

Whilst the protests are building, I can’t have any hope they’ll be enough to topple the psychotic Australian regime. The camps are being built, and the path is clear, as Australia is the blueprint for the rest of the world.
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In early morning, Pfizer CEO Bourla, was doing the media rounds, touting his drugs/treatments for 5yr olds. The CNBC cheerleader is just part of the big pharma’ marketing machine, as its all said with a smile. Never forget. Never forgive.

Goodnight from London

Yours… in autumn/fall 2021 (I’m somewhat surprised I made it this far)