Equities saw midweek weakness, the SPX settling -0.5% to 4365. Meanwhile, WTIC settled +$1.34 (1.9%) to $72.53.
sp’weekly1b
WTIC daily
Summary
SPX: we’re currently net lower for the week by -43pts (1.0%). Weekly momentum is subtly ticking lower, but I struggle to take any equity downside seriously, not least on a day when the VIX printed a new multi-year low.
M/t rising trend is currently around 4K, but does anyone think that is realistic this side of Labor day?
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WTIC: oil climbed for the fourth day of six, especially helped by the weaker dollar. Bullish >$83s. Bearish <$63s. Everything in between is a m/t chop fest.
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Looking ahead
Thursday will see weekly jobs, intl’ trade, existing home sales, leading indicators, EIA Pet’ & NG reports.
Earnings: ACN, DRI
Event: Powell, 10am, US Senate
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Final note
Indeed, whether it was social distancing, masks, or the mRNA shots, they made it all up.
As millions die globally each year due to the shots (I’d refer you to the excess death data), and with the global economy still struggling to seal the fractures due to the mandates, it should be clear, not one single person will ever be held to account. We’re simply not in that particular timeline.
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The very latest…
I’m wondering if the kooks are correct, as they are warning about ‘something’ in mid July.
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Heying and Weinstein, as NATO recently had a massive exercise, a clear display of force against Russia. The fact the Japanese also got involved makes it even more… ‘problematic’, including to the Chinese.
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I’m often reluctant to highlight the Celente (I lean to not intentionally annoy most of you), but still…. here he is…
The probability of nuclear war continues to slowly increase, and I remain seriously concerned we’ll eventually see tactical nukes used.
Back before the media completely sold themselves out to the military industrial complex, and big pharma’, Celente was everywhere…
These days… Celente is an outcast, and perhaps that is partly why he is so angry. In any case… I admire his passion, and I’d consider him a net positive.
Goodnight from London