Month: December 2022

Looking ahead

It was a positive Thursday in equity land, the SPX settling +0.7% to 3963. Meanwhile, WTIC settled -$0.55 (0.8%) to $71.46.

sp’weekly1b

WTIC daily

Summary

SPX: as things are, we’re set for a net weekly decline of -108pts (2.7%). Momentum is ticking lower, but at the current rate will remain net positive well into mid January… which will be a constraint on ALL cooling waves.

Best guess… cooling to the daily 50MA (in the 3840/50s) next week, before a sharp rebound. A quad-opex settlement around 4K would be… most natural.

I see the renewed ‘crash chatter’, but it seems very premature. The bulls should get another chance to break above m/t declining trend, which would offer the 4300s, before resuming ‘normal service’.
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WTIC: a fifth consecutive daily decline, printing $71.12, the lowest since late Dec’2021. Today’s candle is bearish engulfing, having swung from an early high of $75.44. Very soft support at psy’$70, and then 66/65s.

I guess the Biden admin’s overt price manipulation via cutting the SPR in half, has indeed actually helped.

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Looking ahead

Friday will see PPI, consumer sent’, wholesale invent’.

Earnings: LI
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Final note

Flirting With the End Times?

Armstrong – ‘We are tearing everything that held society together apart at the seams. Civilizations rise when everyone benefits. They fall when one group begins to exploit another. That is what is taking place right now.’

*I’d especially note the chart on ‘The Sixth Wave’.

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Dore on Zelensky being named Person of the Year.

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Lets be clear, there is no proper research (that I’m aware of), that suggest those ‘shot’ giving blood is ‘bad’. Yet… I’m not the only one with the concern, with some of the ‘big money’ setting up independent supplies for themselves.

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mRNA shedding is the second biggest concern (the first being mass die off). Again… there is no proper research that I’m aware of,  just a great many anecdotal reports.

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Here in the UK…

https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/deaths/datasets/weeklyprovisionalfiguresondeathsregisteredinenglandandwales

7.3% excess deaths, of which 3.0% were C19 related.

The first number is surprisingly low. With temps dropping, the death rate has to be expected to climb. ZERO concern unless >30.0%
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I’d accept you could argue it wasn’t a ponzi/pyramid scheme.
Regardless… FTX is no more, and the only issue is whether the justice bureau will start throwing charges at SBF, or anyone else involved.

O’Leary apparently is named in a number of civil suits, and I believe he will  be talking to the US congress next week, which will make for some interesting live viewing.

In any case… with FTX effectively gone, that just leaves Coinbase. The latter continues to struggle with crypto, both m/t horror from late 2021.
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Youtube comment… ‘Remember when husbands used to declare their wives insane so they could lock them away in a mental institution and spend more time with their mistress? This has a VERY dark application as it would give spouses a legal loophole to kill their spouse and financially profit from it. Or a caregiver/legal guardian?’

That is just one of many secondary concerns.

Frankly, I’ve no problem when an individual decides they’ve had enough of living on planet Krazy, not least if they are terminally ill. The problem begins when the state/regime get involved.

Most disturbing of all… there is a push for those ‘too poor to live’ to be pressured, coerced, or just bribed to kill themselves.

As a child of the 1970/80s, the movie ‘Logan’s Run’ (1976) left a monstrous impression on me. Almost a half century later, we’re almost there, which is a truly bizarre and saddening thought.

Goodnight from London

Yours… bearish Carousel.