Looking ahead – Trading Sunset

Equities saw a reversal day, the SPX printing 4134, but swinging lower to settle -0.4% to 4091. Meanwhile, WTIC settled +$1.73 (2.1%) to $83.26.

sp’weekly1c

WTIC daily

Summary

SPX: A new multi-week high of 4134, but today does make for a rather strong reversal. If the week can settle below last week’s low of 4069 – as seems realistic (if not probable), it’d make for a decisive bearish engulfing weekly candle, and bode rather ugly into end month.

WTIC: a second day higher, printing $83.53, as yesterday’s bullish engulfing candle played out. Today’s weaker dollar helped. S/t oil bulls should be mindful of two downside gaps, with the latter to the $75s.

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Looking ahead

Thursday will see the latest PPI and weekly jobs data.

Earnings: DAL, FAST, INFY
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Final note

Over the years, I’ve taken rather regular swipes at Elon. Yet… I’ve also noted I see him as a net positive. He certainly merits $8.00 a month.

This time with video & better audio https://t.co/js4nTQSSh3
— Elon Musk (@elonmusk) April 12, 2023

Its rather wonderful to see Elon push back against the BBC hack.
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Dimon Suggests PROPERTY CONFISCATION to Combat Climate Change

Its to be expected, with an underlying push to asset strip 100% from 99% of the populace, and tell them its to prevent something ‘climate change’, or some other garbage reason.

Dimon would no doubt be pleased to see the current banking system collapse, and with CBDCs forced onto the populace. Hell, do you seriously think he might not want to be head of the Fed in the 2030s?
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