Equities saw a weak bounce, the SPX printing 5935, but settling -5pts (0.1%) to 5867.
sp’weekly1b
Summary
SPX: as things are, we’re net lower for the week by -184pts (3.0%). Weekly momentum remains fractionally negative, as bounces are being restrained.
We have a fractional break of the lower side of the ascending channel.
To be decisive, bears should be seeking <5840, but that number will rise to around 5910 as of next Monday.
A decisive break of trend would offer the lower weekly bollinger, currently 5376, if set to climb into the low 5400s next week.
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Looking ahead
Friday will see Pers’ income/outlays, PCE, consumer sent’,
Earnings: $CCL $WGO
Event: It will be QUAD-OPEX so expect considerable chop on VERY high vol’, with some index rebalancing in AH
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Final note
At least a month of cash for grocery shopping would be useful.
Either that… or just have a month of food reserves (I hold 4-5 months).
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Ms. Booth…
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Two great Americans.
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Top tier geo-pol’ chatter from the good Prof’
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Chart of the day
USD, monthly
Pushing into the 108s, as monthly momentum has turned positive.
Soft target… 114s, and then the 121s, last seen in 2001. So long as the Fed cut rates less than the other central banks… the rate outlook is net bullish for the King of FIAT land.
Goodnight from London