US equities settled on a weak note, but that was after the SPX printed a new cycle high of 4448, settling -0.4% to 4409, which made for a net weekly gain of +110pts (2.6%). WTIC settled +$1.31 (1.8%) to $71.93, which made for a net weekly gain of +$1.76 (2.5%).
sp’weekly1b
WTIC weekly
Summary
SPX: a fifth consecutive net weekly gain. Weekly RSI 68s, the highest since Nov’2021, back when some of the indexes began to max out. Momentum ticked upward, and is on the high side.
WTIC: oil printed the $66s, but settling in the $71s. Broadly, price action has been a chop fest since last December.
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Dear Subscriber
Some perspective…
With nine trading days left of June, the SPX is currently +229pts (5.5%) at 4409. I’d note the key 10MA at 4029, some 10% lower. Monthly momentum is fractionally negative, and will turn positive, unless at least half of the current gains are eroded into end month.
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Miscell’ things…
Always good… from Armstrong.
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The Anti-Russian racism…
… as the Czech leader is pushing for ‘monitoring’ of ALL Russians across mainland Europe.
How long until they’re put into camps, or deemed sub-human, and needing to be ‘cleansed’ ? Europe has long had a penchant for genocide. Hell, just go back to the 1990s with Serbia and Croatia.
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Denniger on the Trump…
https://market-ticker.org/akcs-www?post=249061
Celente and Napolitano brought up the same issue…
If correct… Trump is in a whole lot of trouble.
Celente is calling RFK Jr’ as the next President.
Dorsey of Twitter/Block is also onboard the Kennedy train.
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Something different…
I consider Carlson one of the smartest people on planet Krazy, which remains ever vulnerable to literal… big rocks.
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The long weekend
A three day weekend is most welcome. I’ve sideline entertainment via ‘Silo’. I’ve some painting to finish.
There are other things, but I’ve been delaying those for years. Why would I hope to get them done this weekend, than any of the prior 200?
More than anything, I need some hope, but then… these days, aren’t most seeking that?
As ever, feel free to message me via Disqus or email.
Sincerely, have a restful weekend, and goodnight from London
yours… Philip
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The weekend post will appear Sat’12pm EST @ https://tradingsunset.blogspot.com, and will detail six of the US equity indexes (weekly candle charts).
*the next post on this page will appear… 8.30am, Tues’ June 20th.