Equities began the short week on a broadly weak note, the SPX settling -0.6% to 4975. Meanwhile, WTIC settled -$1.42 (1.8%) to $77.04.
sp’weekly1b
WTIC daily
Summary
SPX: we’re only a day into the short week, but still… this week’s candle looks tiny… given a few months of perspective. I’d note the weekly 10MA at 4870 which should remain settled above this week… and into March. Upper bollinger has climbed to 5177, as more of the mainstream are seeking the 5200s this spring.
WTIC: oil printed $78.56, but settled at $77.04. Tuesday’s candle is bearish engulfing, and leans s/t bearish, if only another day or two. Last Friday’s close >$78 is more important, and offers the 83/84s within 2-3 weeks.
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Looking ahead
Wednesday will see FOMC mins (2pm)
Earnings: VRT, MPW, ADI, WING, WIX, PLAB, GLBE, EXC, ALIT, HSBC, NVDA, RIVN, LCID, ETSY, SNPS, NOVA, BROS, APA, MRO, SU
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Final note
Ms. Lilly of Austria, as the EU continues to degrade itself, not least in terms of the food supply.
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This is the average mineral content of calcium, magnesium and iron in cabbage, lettuce, tomatoes and spinach over the past 100 years.
It has fallen by 80-90%.
Our soil is dead folks. https://t.co/zT90rMzB9V pic.twitter.com/Dwkw25VnjF
— 💯 Cary Kelly 💯 (@CaryKelly11) February 20, 2024
Maybe go ‘lightly browse’ the article it links to.
The issue is monstrously important, but few care.
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Dr Campbell… with a broad overview of the excess deaths, most of which are clearly due to the mRNA shots.
*I would note… posting such a video within the failed state of France, is now illegal, and subject to fines and jail.
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There is increasing chatter that the ‘special military operation’… or rather… war, will end late summer. The Russians appear set to push to collapse the front line, and take whatever territory they want.
The absolute wild card… if the UK or anyone else, decides to send troops.
If I see such a story, I’ll be resigned to a nuclear exchange of some degree, at some point. I do NOT say that flippantly.
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Interesting tech-hardware chatter on the hysteria-wrapped Apple Vision Pro.
Apple stands at $181.56. Monthly momentum has turned negative, as big tech is struggling, if less problematic than the semicons.
Computer has a very bullish target of the $263s. That looks a stretch, even if the SPX is printing the 5400s by mid year.
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Earnings in AH… Palo Alto Networks (as I type… 4.33pm ET) -14%. Headline earnings were fine, but the market appears annoyed with guidance.
I have to think those long NVDA will be a little more concerned… ahead of Wed’ AH earnings, which will certainly make for some fine sideline entertainment.
Goodnight from London