It was a choppy Tuesday in equity land, the SPX settling -0.2% to 5555.
sp’weekly1b
Summary
SPX: as things are, we’re net higher for the week by 50pts (0.9%). I’d be open to a tag of the upside gap to 5610, before resuming lower… with basic target of the 5440s. Weekly momentum might turn negative next week, as 5669 appears a key cycle high.
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Looking ahead
Wednesday will see New home sales, EIA Pet’
Earnings: $VRT $T $LAW $NEE $TMO $THC $GEV $GD $BSX $CMG $F $NOW $IBM $VKTX $LVS $NEM $CLS $WHR $WM
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Final note
Ms. Lilly from Austria… on the dystopian hellscape of Europe.
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The DNC conference in mid August is going to merit attention, requiring a monstrous tub of popcorn, as US politics is one of the greatest forms of entertainment.
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Lin with Whalen… HIGHLY recommended.
Go get a coffee or something stronger first.
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… with Armstrong also warning about the banks.
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*I’ve not watched this yet, but it might interest some of you.
Goodnight from London