The SPX printed a new multi-month low of 4222, if settling +12pts (0.3%) to 4410. Meanwhile, WTIC settled -$1.83 (2.1%) to $83.31.
sp’weekly1b
WTIC daily
Summary
SPX: So… today was rather wild, printing 4222, but settling at 4410. Whilst the bulls can tout a massive rebound… it hasn’t stalled downside momentum in the bigger weekly or monthly charts. The latter is the real problem, and threatens far bigger problems in February.
I’d note that having taken out the Oct’ low, next natural support is psy’4K, and then the 38% fib’ of 3815. The latter still looks a threat before end month.
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WTIC: a third day lower for oil. Daily momentum will be prone to turning negative on Wed’, which bodes distinctly problematic for the related energy stocks this Wed>next Monday. Big support/target is the 50dma in the $75s. Its arguable the latter would sync with sp’4000/3800s.
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Looking ahead
Tuesday will see Case Shiller, consumer con’
Earnings: JNJ, GE, VZ, AXP, LMT, MMM, NEE, RTX, MSFT, TXN, COF, NAVI
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PF charts of the day
Computer has a wildly bearish target of the $8s. I’d settle for the 13/12s.
Computer has a bearish target of the $43s, which I agree with.
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Final note
The day began with…
As the War drums are indeed distinctly louder.
Highly recommended… inc’ the comments..
http://market-ticker.org/akcs-www?post=244930
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Twitter continues to push against those frustrated by the mandates…
Twitter itself… a failing company, and with Dorsey long gone,will continue to devolve. Seeing the stock head for the $25s is pleasing. The new CEO getting ousted by year end would be even better. A 50M switch from TWTR to DWAC would be the best, although I’m not aware of just how ‘open’ that platform might be. Its possible Trump will have anyone kicked off who is against ‘Operation warp speed’.
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The full video is out there, but this little clip sums up the World Economic Forum…
Lol. They actually call themselves 'The Elite' in real life.
This is hilarious. 😂 https://t.co/buY43EQTvV
— ZUBY: (@ZubyMusic) January 21, 2022
… as members of the WEF are brazen enough to refer to themselves as ‘the elite’. The only thing missing was her lack of deeming the rest of us as ‘sheep/serfs’. The WEF is one twisted institution. Whether you believe they’d like to kill off 90% of the global population to ‘better control them’… I’ll leave that for you to decide.
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Here in the land of yours truly… it took around 27 years (I’ve not lived here that long, but I know when the area was built) to finally have cable laid. Its actually kinda surprising, but I guess there is a lot of spare money sloshing around for capital projects, not least in the capital itself.
As things are, I’m very content with my 5G service for $50 a month.
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Ohh, as for the market… yours truly is a little concerned the market might ‘run away’ to the upside, but as I say to others… ‘go stare at the monthly candle chart for a good hour’. Yes… I should do that, as downside momentum will be very inclined to accelerate into February. The fact we printed sp’4222 with VIX 38s is reflective of an increasingly unsettled market.
Goodnight from London
Yours… expecting to be woken up at 3am EST… by the cable guys.