Equities continued to claw upward, the SPX printing a new hist’ high of 6360, and settling +49pts (0.8%) to 6358.
sp’weekly1b
Summary
SPX: we’re currently net higher for the week by +62pts (1.0%). Weekly momentum is flat-lining on the very high side, and will remain positive until at least early Sept’. Upper weekly bollinger is offering the low 6500s, as look realistic mid August/early Sept’.
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Stock of the day
PLTR, daily
Palantir settled +3.7% to $154.62. Daily momo is marginally positive.
PLTR, monthly
My key issue is… whatever Palantir is printing mid/late Oct’, it will arguably be a buy… on the notion of main market upside into Jan’2026
Ohh, and I say that… whilst holding the notion the company is already pretty high on the ‘corporate evil’ scale. However, even if you agree with me on that moral issue, that sure as hell doesn’t mean its something to be short!
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Looking ahead
Thursday will see Weekly jobs, PMI serv’ & manu’, new home sales
Earnings: $AAL $BX $NOK $DOW $LUV $FLEX $UNP $NDAQ $KDP $HON $INTC $NEM $DECK $DOC $SCHL $ORC $LBRT $EW $BYD $COUR
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Final note
… its possible, if not until 2030/32.. when the grander social and economic cycles will have turned.
Silver today printed a new multi-year high of $39.52, if cooling back to $39.30.
Certainly, silver appears set to break above the multi-decade double top of the $49s… if more viable in early 2026. Once >psy’ $50, the ‘easy money’ will be to around $75, as look realistic in spring 2026.
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‘The Neocons who now control Germany, France, the Netherlands, Britain, Poland, all the Baltics, and Scandinavia have succeeded in usurping power to create WWIII’ – Armstrong
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Carlson on corporate fascism
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Almost as furious as yours truly.
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I really need to get around to watching season’2 of Andor, before I run out of time. Its only 4 sets of 3 episodes, but I’m finding it difficult to make the time for it.
Goodnight from London