Equities rebounded, the SPX settling +129pts (2.5%) to 5287
sp’weekly1b
Summary
SPX: with today’s gain, the current weekly candle is a bullish hammer, with a spike floor from key price threshold. Bodes pretty bullish into May.
Weekly momentum is slowly starting to tick upward. The bearish scenario would STILL assume it ticks upward for at least ‘some weeks’. The bullish scenario would assume it ticks upward across the entire summer.
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Looking ahead
Wednesday will see PMI serv’ & manu’, new home sales, Fed Beige book
Earnings: $BA $T $VRT $APH $NEE $CHKP $PM $GEV $VIRT $ODFL $IBM $ALK $NOW $CMG $CCS $ORLY $NEM $TXN $LRCX $LVS
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Final note
It’d be ironic if Mr ‘use the dollar, or pay the price’ Trump, ends up causing a collapse in the dollar.
The loss of DXY 100 merits concern, with no major support until 89/88s.
A break <70 would merit alarm bells, and threaten 50, with Gold somewhere north of $10K.
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Gold chatter… with gold having printed a new hist’ high of $3497.
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Poland Prosecutes 45 Doctors for COVID Vaccine Misinformation
‘It is an absurd case of cognitive dissonance that the world is continuing to push the false COVID-19 narrative, but governments refuse to admit what truly happened in 2020.’
… for what reminds me I exist within a very sick society/species.
If that annoys you, then I suggest you re-read the above story.
It should make your blood boil that those brave few doctors who have questioned the narrative of lies… are STILL being persecuted.
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… make of that… what you will.
Bitcoin remains m/t bullish… above the monthly 10ma ($80750). S/t upside resistance 99/100k. My concern would be net bearish into Oct’… assuming the main market is net lower.
I HOLD XRP, but would look to drop on any sig’ gain, or with the SPX 5700s, whichever comes first.
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… “It’s all good man”… as I’ve just 23 episodes left of the Breaking Bad universe. I’m aware director/writer Gilligan has a sci-fi show lined up for AppleTV.
Ohh, and upon checking, I see it has Kim! … aka… Ms. Seehorn
> https://www.imdb.com/title/tt22202452
Goodnight from London
yours…. time for the season five premiere