The SPX settled +0.1% to 4981. Meanwhile, WTIC settled +87cents (1.1%) to $77.91.
sp’weekly1b
WTIC daily
Summary
SPX: we’re half way through the short week, with the SPX net lower by -23pts (0.5%). Price action is to be seen as ‘noise’. Bulls should be able to sleep just fine unless the weekly 10MA (4870) is settled under, and that does not look realistic in the near term.
WTIC: oil printed $76.32, but recovered to settle at $77.91. Last week’s close >78 remains significant, and I see the door remaining open to the 83/84s.
The wild card is the middle east, which remains a semi-lit tinder box.
A subscriber kindly forwarded this, which arguably merits your time…
It should be clear… Israel does NOT want a Palestinian state.
The Palestinians are not going to be placated with a return to pre-Oct’2023… not that that is possible, as much of Gaza has been leveled.
So… the current path remains… more death, and an eventual exile into the Sinai. The ‘Arab world’ is mostly all talk, as they have done little of significance to protect their supposed brothers and sisters.
In any case… its just another sign of just how broken the global populace remains, as most look on, and won’t even dare say a damn thing for fear of being labeled anti-Semitic.
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Looking ahead
Thursday will see Weekly jobs, PMI manu’ & serv’, existing home sales, EIA Pet & NG reports
Earnings: MRNA, NEM, AG, NKLA, LNG, FVRR, W, PXD, ECC, BLDR, SQ, CVNA, MELI, NU, ARDX, BKNG, INTU, INDI, VALE, LYV
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Final note
Hunter with guest Holter. For the record, I do NOT believe the Fed would hike rates to prop up the dollar. I would accept they’d raise them… if there is a secondary inflationary wave, as I continue to suspect.
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You can dispute the number, but it should be clear, the CCP have actively placed some number of agents, ready to be activated. Attacks on power infrastructure (transformers, lines) would be a key target.
*Ohh, and I do suggest you sign up to Rumble. Its free, and a distinctly more ethical site than Youtube.
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*I’ve not watched this yet… Ms. Cambone with Mr. Griffin.
I do have the Jekyll Island book.
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The Celente… ever more furious.
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If anything… its pleasing to be right. Further, the Dow 30 should be changed to the Dow 50, as a number of other world indexes have done in recent years. Or a round 100, like the UK’s FTSE 100.
As for WBA and AMZN…
Walgreens stands at $21.75… l/t horror from the 2015 $71s.
Amazon stands at $168.59. M/t bullish with the main market, and I’d note the 2021 hist’ high of the $188s, as look realistic within April/May.
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Ohh, and as for Nvidia earnings. I decided it was in my best interest to turn off my screen before the close… so I’ve no idea. I’m guessing lower, but I’ve no position, and don’t really care.
I’m going to watch a movie (The Iron Claw? ), and get considerable sleep.
I’ll hold the small hope that I don’t wake up.
I’m tired of this living hell.
Goodnight from London