Looking ahead

It was a bearish start to the week, the SPX settling -2.1% to 4137. Meanwhile, WTIC settled -8cents (0.1%) to $90.36.

sp’weekly1b

WTIC daily

Summary

SPX: a rather ugly start to the week. Weekly momentum is offering a provisional cyclical rollover. I’d especially note the upper weekly bollinger which has adjusted from last week’s settlement of 4470 to 4406, and will be in the mid/low 4300s as of Aug’29th.

WTIC: oil printed $86.28, but saw a very strong rebound on hopes of supply side cuts. Today’s candle is a spiky hollow red reversal candle, and leans s/t bullish.

–

Looking ahead

Tuesday will see PMI manu’ & serv, new home sales

Earnings: M, XPEV, JD, DKS, MDT, INTU, JWN, TOL, URBN
–

PF chart of the day

Computer has a moderately bearish target of the $121s. (scale is $2 increments… see top left number!)

Amazon, monthly


The August candle is distinctly spiky from around the 10MA… reflective of s/t bullish exhaustion. Target has to be psy’ $100, with secondary of the March 2020 $81s. The latter look realistic with Q3 earnings in mid/late Oct’.

–

Final note

*special note to the new people…
I don’t expect you to agree with everything I post (esp’ in AH). I do expect you to question everything though, whether its from CNN, FOX, Zerohedge, or yours truly. If you can do that… you’ll be ahead of the curve.
—

Seeing the UK’s Telegraph push the ‘Ohh, the Russians did it to themselves’ line… was pretty amazing to see. The same publication has been using the slur ‘conspiracy theorists’ for decades, to those touting ‘false flags’.
–

Heyling and Weinstein on the updated CDC guidelines.

Indeed, where are the apologies though?  I’m not holding my breath, but I am hoping those at Twitter HQ who libeled and slurred many (yours truly included) with ‘misinformation’ keep taking the mRNA gene therapy shots. I will not have anything other than contempt for how the resistance were, and (to a lesser extent) are still treated as tier’2 people.
–

I’d imagine a few don’t read through my English dark sarcasm. In any case, we’ve a Canadian political hack touting a treatment which has ZERO longitudinal data, for a variant which has near zero risk to anyone, not least for the children.

–

Here in the UK, the inability to get prompt medical treatment has reached crisis levels. Thousands are arguably dying EACH month. The shortage of staff is partly due to the John Galts, and partly due to ‘excess’ deaths via the shots. Its only August, and I have to expect things to worsen into next year.

–

Dore on the European farmers pushing back against the evil of the WEF’s ‘Great Reset’.

–

Other than grabbing the opening/closing bell screenshots, I’ve been on CNBC ‘vacation’ for a few weeks now. I feel better for it, but once we’re past the Labor day break, I’ll be more closely watching them, if only to enjoy watching them in shock at what seems set to unfold into and across the Fall.

Whilst Friday and today were pretty bearish, I still consider this the lull before the storm. Enjoy the relative quiet, as things should become increasingly wild once we’re past the Labor day break!

Goodnight from London