Looking ahead

US equities began the week on a rather weak note, the SPX settling -1.5% to 3963. Meanwhile, WTIC settled +$0.96 (1.3%) to $77.24.

sp’weekly1b

WTIC daily

Summary

SPX: First, I’d note that despite today’s drop, weekly momentum is STILL ticking upward. Its on the high side though, and if this is to remain a bear market, we should see a provisional cyclical turn by early next week.

I’d note upper descending trend – currently in the 4110s, but it looks out of range considering ‘everything’.
–

WTIC: a moderate net daily gain, but today did see oil break a new multi-month low of $73.60. Oil is m/t bearish… with next major support in the $62s, as seem realistic by mid December. If correct… that won’t help the related energy stocks.

–

Looking ahead

Tuesday will see Case-Shiller HPI, FHFA HPI, Consumer con’.

Earnings: BILI, CRWD, INTU, WDAY, HPE
–

Final note

Its especially pleasing that some haven’t forgotten their recent history. Maddow was one of the very worse, and all her original videos/tweets filled with lies and/or delusions were never retracted or removed.
–

Its indeed ironic to see how western media portray things.

–

Elon is pushing hard… and keeping most of the dirt ‘in the open’ for his 119M followers to read. I just hope he has a good team, especially in terms of finding even more people to develop Twitter 2.0.
–

Across the last few decades, I’ve seen some indirect signs… and that might be one.

Goodnight from London