It was a very subdued start to the week, the SPX settling +0.05% to 4138. Meanwhile, WTIC settled +$1.82 (2.5%) to $73.16.
sp’weekly1c
WTIC daily
Summary
SPX: structure of a H/S remains arguably valid. Regardless… weekly momentum rolled over last week, and might turn negative next week.
Bears need to take out the recent marginal double floor of 4049/48…. round it down to 4K… to be decisive. Even then, I’d accept its all ‘broad chop’.
WTIC: a second day higher, printing $73.69. S/t bullish, if only another 1-2 days. Any renewed downside in the main market won’t help. Oil bulls should be seeking the USD to lose the DXY 100 threshold, but that won’t be easy!
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Looking ahead
Tuesday will see NFIB optimism index
Earnings: NVAX, COTY, UAA, FSR, NKLA, ABNB, RIVN, OXY, TWLO, AFRM, UPST, WYNN, BROS, CELH, LAZR
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Final note
NEW – Chelsea Clinton Announces 'The Big Catch-Up' Initiative Which Will Be 'The Largest Childhood Immunization Effort Ever'
"We need the public sector to hopefully stop doing things like stripping away public health emergency powers from state public health agencies…We're… pic.twitter.com/pGbgWAJRNP
— Chief Nerd (@TheChiefNerd) May 8, 2023
Contrary to what some believe, ‘they’ will never give up, in trying to push for complete control of the populace. Regardless of her parentage, young Ms. Clinton clearly believes you don’t have the right of body autonomy or the right to question the narrative. A very dangerous person.
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Ray Liotta
Celine Dion
Justin Bieber
Tony Siragusa
Damar Hamlin
Hank Aaron
Marvin Hagler
Christina Applegate
Betty White
Diamond
Lance Reddick
Bob Saget
Louie Anderson
Taylor Hawkins
Lisa Marie Presley
Heather McDonald
Franco Harris
Jamie Foxx
Mike Leach
Luke Knox
Leslie Jordan— Dr. James E. Olsson (@DrJamesOlsson) May 8, 2023
A list of those some believe were injured/died as a result of the shots.
Clearly… each case is highly anecdotal. Still… it merits a highlight.
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‘They’ are also trying to re-write their recent histories.
In some cases though they are partly right. Hell, even I will accept that regime leader Trudeau never ‘forced’ anyone to take the shots. Bribes, threats, coercion, and firings, yes… but that doesn’t count as ‘forced’.
For almost everyone (children are an obvious prime exception) the shots were a choice. Its almost amusing how some are claiming otherwise.
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We’re another day closer to the debt ceiling being a problem. I have to assume the political hacks will agree on something, to kick the can into 2024. Broadly… there are more important matters though, not least the collapsing banks.
I’ve not even viewed this myself yet, but I do kinda like Dalio, and I’m guessing some of you might do well to get a coffee, and then watch.
Goodnight from London