It was another day of considerable chop, if still battling upward, the SPX settling +1.0% to 3998. Meanwhile, WTIC settled -$3.53 (3.5%) to $96.35.
sp’weekly1b
WTIC daily
Summary
SPX: as things are, we’re net higher for the week by a powerful +3.5%. This week’s candle bodes for a higher high next week, although I’d expect a reversal with the Fed/GDP. Weekly momentum now appears set to turn positive NEXT week. Green zone is the natural target!
WTIC: a second day lower for oil, settling in the low $96s. No concerns unless the 200dma $93s is closed under… and that does NOT look realistic ahead of the Fed.
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Looking ahead
Friday will see PMI Manu’, PMI Serv’
Earnings: CLF, VZ, AXP, SLB, TWTR, NEE, HCA
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PF chart of the day
Computer has flipped to a bullish target of SPX 4399.
Whilst I don’t expect quite that high… it broadly matches my bullish outlook for Aug/early Sept’.
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Final note
If I’ve gained anything from Mr Rogers, its an even higher respect for farmers, and anything agriculture related.
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Here in the UK, there is a renewed push for ‘Digital ID’…
UK leaders are preparing to implement Digital ID pic.twitter.com/xzP8JKT5H1
— Echo Chamber (@echo_chamberz) July 21, 2022
… and it continues…
U.K. – The government has quietly announced plans for a contactless digital border. Obviously you will require digital ID and facial recognition at ports of entry.
Tracked, monitored and controlled.
It was always coming, they just didn’t really want you to notice. pic.twitter.com/maGNMVqULx
— Bernie's Tweets (@BernieSpofforth) July 20, 2022
The last two steps to complete totalitarian control…
Digital ID/track everyone 24/7/365
Digital currency system… the CBDC, in association with a social credit score.
They won’t need to vilify, fine, or jail anyone who doesn’t agree with the regime’s narrative, they’ll just cut you out of the system with the push of a button.
We’re only a handful of years away from this.
Goodnight from London