It was a net bullish day, the SPX printing a new historic high of 4598, if cooling back to settle +8pts (0.2%) to 4574. Meanwhile, WTIC settled +89cents (1.1%) to $84.65.
sp’weekly1b
WTIC daily
Summary
sp: Yet another new historic high, but this market is s/t very over-stretched. Today’s daily black candle does bode bearish for the near term, and that could stretch into next week. Soft target are the 4450s, but its almost equally possible we’ll see a fuller washout to the 4380s, before resuming ‘normal service’.
wtic: yesterday’s candle was black, and that did play out… if only briefly, with oil surprisingly leaning back upward. Momentum remains inclined to turn negative this Thurs/Friday. Support 77/76s.
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Looking ahead
Wednesday will see Durable Goods Orders, EIA Pet’
Earnings: BA, GM, KO, MCD, BMY, SPOT, TEVA, TECK, F, TDOC, TWLO, NOW, ALGN, UPWK, EBAY, LC
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PF chart of the day
Computer has a bearish target of the $281s. Having failed to hold the 200dma, next support is psy’$300, and then the 280s.
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Final note
It was just another day for Twitter to tout the narrative…
Likely paid propaganda, whether it was via the Govt’ or big pharma’ itself.
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Choice is defined as an act of selecting or making a decision when faced with two or more possibilities. America gave us the choice to take the vaccine or not take the vaccine. As time moves on, that choice is gradually being stripped from us. pic.twitter.com/7F6RsWaDkL
— Floyd Mayweather (@FloydMayweather) October 25, 2021
Indeed, the ‘choice’ is being stripped away from most. If there is anything I expect of you dear subscriber, its your belief in choice, and respecting other’s right to choose what they believe is right.
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CDC Director Walensky… to eventually be selected Commandant of the US Gulags for 'the resistance'.
After the 're-education', comes the torture, rape, and execution… but many will be supportive of this, not least Chomsky. https://t.co/NIm7SZyxSw
— Philip Calrissian (@Trading_Sunset) October 26, 2021
The path we’re on… is disturbingly clear. Walensky is one of those psychopaths I can see from a literal thousand miles away. There are many out there who will support the forced ‘re-education’ of those public AND private sector workers who don’t wish to take the treatments.
The push back from the resistance remains sadly weak, and I have next to zero hope this can end well for those who still remember life before March 2020. The only solution… ironically, remains the cleansing of the ‘big bad’.
Keep an eye on the death rate. Here in the UK, it remains elevated, with the demographic spread massively different since Jan’2021… when the treatments were rolled out. That can be expected to further ‘develop’, once the 5-12yr cohort are shot.
These are the wildest of times…. not least with the supply chain crisis, and a crisis it IS. If the sheep/serfs start to recognise it and panic, then even the US equity market will face a problem. As March 2020 showed, such a panic starts imperceptibly slow… but can reach absolute mayhem in just 2-3 weeks.
I guess I should say… ‘shop accordingly’.
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Finally, another piece of art from After Skool, which I’m happy to promote wherever I can…
Hancock is someone I’ve followed for a very long time…. since ‘Fingerprints of the Gods’. History… pre 3000BCE is not what most believe, but hey… I’d expect a few of you know.
Considering ‘everything’, I do find it difficult to be hopeful that our civilisation will not similarly collapse. Despite all the wealth, all the technology, our lives are way more fragile than a small community living within the Amazon jungle.
Goodnight from London