It was a net bullish day, the SPX printing a new hist’ high of 5878, if cooling back to settle -1pt (0.02%) to 5841.
sp’weekly1b
Summary
SPX: as things are, we’re net higher for a sixth consecutive week, +26pts (0.45%). Weekly momentum is increasingly positive, offering zero sign of a ceiling/turn. I’d agree that price action feels ‘real tired’ though… as many are understandably more focused on the election.
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Looking ahead
Friday will see Housing starts, building permits.
Earnings: $CMA $SLB $AXP $PG $ALV $RF $FITB $ALLY $SFNC $ACU
Event: OPEX, expect broad chop on high vol’. The s/t cyclical setup offers some cooling, if no lower than a pin around SPX 5800.
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Final note
Ms. Cambone with the Laffer. I’m not a fan of him, but I’m sure some of you might like this.
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So now the US military are allowed to start fighting Americans.
Great, just great.
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Two crusaders for the US populace.
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I like Maloney, but he can’t have it both ways. If he is calling equities as close to a major top, then lower equities will see silver smashed lower.
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Ms. Makori, with some guy who thinks gold might print $150K.
At 1hr 43mins… I’d favour two episodes of Breaking Bad, but maybe a few of you might want to watch it.
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‘Remove Putin, and you will get all out World War III with nukes, for those he has been restraining are the Russian Neocons…’ – Armstrong
That is the case, and I’ll hope Putin stays in control for some years to come.
Europe itself is seeking war, not least Poland…
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The Prof’ is one the most balanced people out there.
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Another day on planet Krazy
Every day feels more difficult, not least as the news is ever more twisted and dark. My current escape from the horror of reality (usually around 1am) is Breaking Bad, which is ironically rather stressful and horrific at times. Still… its well made, and I’ll stick with it until the end.
Goodnight from London