Equities began the short week on a pretty bearish note, the SPX settling -1.7% to 4412. Meanwhile, WTIC settled -$3.97 (4.0%) to $94.29.
sp’weekly1b
WTIC daily
Summary
SPX: Momentum has stalled from just under the key zero threshold. On balance, 4350 or so… before resuming upward into May. It’d make for a higher cycle low… before rolling over in mid/late May.
WTIC: oil printed $92.93, the lowest since late February. I’d note the 200dma in the $81s. I’d be open to that being tested late April/May, before resuming upward.
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Looking ahead
Tuesday will see the latest CPI.
Market is expecting headline y/y of 8.4%, vs 7.9% prior.
Ex food/energy y/y 6.6% vs 6.4 prior.
Those look overly conservative, and I’d not be surprised to see 8.7 and 6.9 respectively.
Other data: US T-budget
Earnings: KMX
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PF chart of the day
Computer has a bearish target of 32.5, aka…. the US 10yr yield to 3.25%. I can agree with that, although first… psy’ 3.00%, whether this month, or shortly after.
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Final note
Superb as ever… from the Academy of Ideas, as the society/species is suffering a sustained bout of anxiety and depression.
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Dr. Fauci is right, as usual. And the unvaccinated are keeping the virus alive.
— Eileen Marie Sarah (@EileenMarieSar1) April 11, 2022
You could argue she is intellectually ignorant, stupid, or just unable to cope with the notion that Fauci might not be right. Her view that the unvaccinated (or rather unpoisoned) are to blame, is beyond dumb, its contemptible.
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The UK’s Brand who continues to highlight some of the things that the triumvirate of censorship (TWTR, FB, GOOGL), would rather not be said. Russell is one of a few who are almost ‘too big to cancel/delete’.
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Horrifying: The Shots May Be Altering Human DNA to Produce Spike Protein on a Long-Term Basis
Dr. McCullough: "If this is true… we'll never be able to get this spike protein out of the human species." pic.twitter.com/FawvYJLXEV
— The Censored Fox 🦊 (@censoredfox) April 9, 2022
There are some interesting (if disturbing) studies that suggest an integrated mRNA message to ‘produce the (poisonous) spikes’ is a long term, if not permanent problem to some degree.
Further, it should be clear that each shot increases the risks of l/t problems. Those risks are not fully known, not least in terms of severity, or the type of problem.
Ohh, and as for the ‘Novavax’ – which many of those who don’t trust the mRNA biotechnology are leaning toward, the NVAX product is a pure injection of spike proteins. I guess you could argue ‘at least its not programming our cells to produce the poison’.
Either way, none of this is good, and I expect the mortality rate to noticeably climb, especially from this autumn onward. We should look for some independent data this summer from the Insurance actuaries!
Goodnight from London