US equities ended the week on a naturally subdued note, the SPX settling -1pt to 4026, which made for a net weekly gain of +60pts (1.5%).
sp’weekly1b
Summary
SPX: the fourth week higher of six. Momentum ticked upward, and is on the high side. As of next week, m/t declining trend will be in the 4110s. Unless we break and hold above trend… any talk of 4300/4400s is to be dismissed.
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Dear Subscriber
Some perspective…
With just three trading days left of November, the SPX is currently +154pts (4.0%) at 4026. Bears should be seeking another monthly settlement under the key 10MA, currently at 4052.
I would note, even though the SPX will probably settle under its 10MA, the Dow is going to settle far above. Its just one index… but it should be a concern to the bears.
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Miscell’ things…
Special note to the ‘new people’.
I don’t expect you to agree with everything I post, especially in after hours. I’ve never been one to shy away from discussing contentious issues. What I do expect is that you question everything, whether its from CNN, FOX, Zerohedge.com or yours truly. If you can do that, you’ll be ahead of the curve.
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A single ideology dominates and silences the rest, branding everything it disapproves of as “violence” and a “threat to democracy.” Criticism of wokeness is “stochastic terrorism.” Only one narrative is allowed to prevail and it is promoted by the media. All dissent is quashed.
— Ian Miles Cheong (@stillgray) November 25, 2022
… and that reminded me of the following from Wednesday…
I’ve especially followed Hancock since his book ‘Heaven’s Mirror’ back in the mid 1990s. I like him, as he has pushed hard against the establishment.
I’m highlighting this not to reiterate my support for his general hypothesis of an ancient lost civilisation, but the fierce push back that he continues to get from the mainstream media hacks.
Now ‘they’ are using the word ‘Dangerous’ for anyone who proposes a non-narrative idea. Its a disturbing notion, but I’m not surprised. Literally anyone who offers a non-narrative view is slurred, whether the old ‘conspiricist’ handle, or more recently… something like ‘anti-vaxxer’.
The broader society/species is increasingly unable to cope with anyone having an original idea.
The chatter on Reddit is largely supportive of this slurring…
Those who do counter the slurs are themselves slurred.
If there was an advanced civilisation some 15000 years or so ago, its not surprising it eventually failed, as humanity appears fatally psychologically flawed.
*I do recommend ‘Ancient Apocalypse’, an 8ep’ mini series, via Netflix.
Carlson (who appears in Ep’8) has a superb YT channel…
https://www.youtube.com/@TheRandallCarlson/videos
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Heyling and Weinstein, as FTX were even meddling in pushing the anti-Ivermectin narrative.
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Dore on the FDA, who used to slam those who took Ivermectin. Now… they are busy trying to re-write their history.
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This sort of token protest does nothing to excise the cancer of communism. It just makes the cancer… even more resilient, and determined to maintain control. https://t.co/B9P8X1uqTF
— Philip Calrissian (@Trading_Sunset) November 25, 2022
The ‘zero covid’ policy is really stressing the Chicoms out!
I truly wish I could hope the Chinese sheep/serfs rise up, and overthrow the communist dictatorship, but that seems extremely unlikely, as modern technology makes tracking any underground groups so much easier.
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The weekend
I used to hope I’d get something useful done, but who am I kidding, as I’ll likely mostly just sleep.
Honestly… I’m struggling. Maybe its the chronic lack of sunshine, or more likely… the fact that the news just gets worse with each and every day. My only hope is I leave the city next summer… but right now, I find it difficult to believe its a realistic scenario.
As ever, feel free to message me via Disqus or email.
Sincerely, have a restful weekend, and goodnight from London
yours… Philip
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The weekend post will appear Sat’12pm EST @ https://tradingsunset.blogspot.com, and will detail six of the US equity indexes.