Equities started the week on a bullish note, the SPX settling +1.1% to 5564.
sp’weekly1b
Summary
SPX: a sig’ bounce, but after last week’s bearish engulfing (weekly) candle, I have to see it as a bounce. Further, I have to look for another swing lower to take out last Friday’s low of 5497… at least to print the 5450s or so. Weekly momentum continues to weaken, and might turn negative next week.
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Looking ahead
Tuesday will see Existing home sales, PMI serv’, PMI manu’
Earnings: $SPOT $UPS $GE $GM $KO $FCX $LMT $CMCSA $PII $PM $TSLA $GOOGL $ENPH $V $TXN $CB $STX $COF $CALM $PKG
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Final note
‘The Party then tells you what to vote for. The policies are set in the backroom by UNELECTED party elites.’ – Armstrong
The notion of democracy has always been – to varying extents… a beautiful lie.
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Net’ of Israel is boldly traveling to the USA… whilst the pressure is increasing on him, not least via the ICC. The weekend saw Israel hit by a single drone… to take revenge via an aerial strike, killing perhaps as many as a hundred.
The path is clear, as its just a matter of when it becomes all out war. Ohh, and it should be equally clear, the house of Saud and Egypt have been playing games for a few years, as they’d be delighted to see Israel driven into the sea.
*Good luck to those short oil and the related energy stocks.
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Dr Campbell… a clip from a recent interview.
The issue concerns lipid nanoparticles… which are likely problematic.
Today’s Cheatle hearing was fascinating to watch. On one level, I can understand her not having all the answers, but she effectively offered nothing of note. I expect her to resign… if not until after the election.
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The mouse remains problematic
Disney settled the day -1.7% to $94.13. We’ve a minor downside gap to 87/83s… as seems viable in early August with earnings.
Computer has a pretty bearish target of the $77s.
As ever, I’d be more focused on the direction, than precise target.
Goodnight from London