Equities saw increasing weakness, the SPX printing 6343, if recovering to settle -0.2% to 6395.
sp’weekly1b
Summary
SPX: as things are, we’re net lower for the week by -54pts (0.8%). Weekly momentum is weakening, prone to turning negative around mid September… when some are still (vainly) expecting a rate cut.
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Stock of the day
PLTR, daily
Printing the $142s, but recovering to the $156s. Today’s candle is a hollow red reversal from around the 50dma, leans s/t bullish, but I’m rather dismissive of it. Ongoing price action is increasingly suggestive this is going sub $100
PLTR, m
The August candle is extremely spiky on the upper side, indicative of exhausted bulls. The $125 threshold looks pretty easy, and downward to wash out the psy’ $100 stops.
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Looking ahead
Thursday will see Weekly jobs, Phil’ Fed’ manu’, PMI serv’ & manu’, existing home sales, leading indi
Earnings: $WMT $HOV $CSIQ $OSIS $BILI $AEG $SCSC $ZM $WDAY $INTU $ROST
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Final note
Miscell’ chatter
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There can be only one 2008.
2025 will be different… as will next year.
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Independent housing chatter.
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*I’ve not watched. Looks like some wildly disparate chatter.
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Wow, its Mr Faber!
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Indeed, the Europeans are warmongers.
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The Celente
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Bond yields
A subscriber kindly prodded me on Japanese bond yields, which lead me to creating a new chart…
The 5% threshold is very important, with the failed state of the UK prone to spiking upward, ahead of the USA.
It shall remain the case, I’d favour almost any US listed stock above any Govt’ bond, not least from the UK or Japan.
Goodnight from London