It was a positive Tuesday in equity land, the SPX printing a new cycle high of 4375, and settling +0.7% to 4369. Meanwhile, WTIC settled +$2.30 (3.4%) to $69.42.
sp’weekly1b
WTIC daily
Summary
SPX: I’d especially note the upper weekly bollinger at 4366… which we brushed against today. On any basis, we’re s/t over-stretched, and due (at minimum) 3% of cooling to the 4240/20 gap zone.
Weekly RSI 66s is the highest since Nov’2021, back when the Nasdaq and hysteria stocks started to max out.
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WTIC: oil rebounded, but it remains s/t broken. If the main market does swing lower after the Fed… oil could be expected to follow to some degree.
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Looking ahead
Wednesday will see PPI.
Earnings: ACB, LEN, RF
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Final note
The day began with…
UK – The Covid inquiry has already failed.
Demands for visitors to take daily lateral flow tests & wear masks, as well as using disinfectant fogging to sanitise the room, proves these people are entirely incapable of rational & balanced analysis.
It’s truly pathetic. pic.twitter.com/hmHRgo1zAE
— Bernie's Tweets (@BernieSpofforth) June 13, 2023
Some are still playing the mask games. The ‘inquiry’ is recognised by many as a farce. Nothing useful will come of it. No one will ever be held to account for the hundreds of thousands of deaths.
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Cohen appears set to be no better, if not worse than Walensky.
To the political/societal elite, the C19 mandates were amusing at times, not least as they rarely played by the same rule-set as the sheep.
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The latest death data from the UK…
Excess death rate: 12.3%, of which 2.1% were being linked to C19.
The weekly data remains jumpy, but most nations are around 10/15% above normal, and the bulk of that is clearly due to the shots.
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Superb commentary from Heying and Weinstein, as a biased editor took one shot too many. I will have ZERO sympathy for those who threatened, and tried to have my life and others destroyed. To hell with them all.
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'In other words if you're an adult and put up with this crap you are committing the literal slow suicide of your own species.'
Always superb… the Denniger. @tickerguy https://t.co/71EOi6360m
— Philip Calrissian (@Trading_Sunset) June 13, 2023
The woke lunatics, and the anti-humanity organisations -the UN and WEF, are literally striving for a demographic collapse, with an ongoing war against the farmers, especially within Europe.
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Arguably the best channel dealing with the Ukraine/Russia conflict on a pure military/tactical basis.
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Ohh, and as for…
… certainly, it was an ‘event’. I very rarely watch CNN, but just following them for 20 minutes was more than enough to see how twisted and partisan they are.
As for Trump himself, I can’t fathom how this will play out. I’m aware of the charges, and as a President, I see him immune to any such claims. Regardless, it will play out… as it will.
I wished I lived in the timeline where the US is fiscally balanced, with an economy growing at 3% per year. If only I could just own 25/30 stocks, not have to worry about the corruption, and constant threat of another collapse wave, before yet another bailout/system reboot.
If only.
Goodnight from London