US equities saw rather impressive upside ahead of Thursday’s inflation data, the SPX settling +1.3% to 3969. Meanwhile, WTIC settled +$2.29 (3.0%) to $77.41.
sp’weekly1b
WTIC daily
Summary
SPX: Last week’s weekly ‘hammer candle’ is playing out, with a new cycle high of 3970. A push to wash out the 4K short-stops appears probable, whether before the weekend… or next week.
More than anything, note m/t declining trend – currently around 4030. Any price action above… would offer a run to the upper bollinger, currently 4148.
Further, I’d be equally focused on the bigger monthly candle charts…
To have some confidence, bulls need to see January settle back above the key 10MA, currently 3948… and I’d round that up to 4K to be ‘decisive’
–
WTIC: oil climbed for a fifth consecutive day, helped by the positive main market. Momentum has turned positive, and I’d note the 50dma in the $79s.
–
Looking ahead
Thursday will see the latest CPI data, consensus is…
Headline y/y: 6.6% vs 7.1% prior
Ex food/energy y/y: 5.7% vs 6.0% prior
Other data: weekly jobs, US T-budget
Earnings: TSM
–
Final note
The population voted for dipshit leaders that got you these dumb monetary policies.
J-O-B stands for 'just over broke' – this is how they own you. Libs keep you 'JOB' on purpose, so you keep voting them in.
Are you unplugging and seeing the code in the matrix yet? https://t.co/1CKDsXqWNG
— Richard Cooper (@Rich_Cooper) January 11, 2023
Whilst I understand missy’s complaints, Cooper is right, she is likely the same ‘dipshit’ that voted (makes no difference what side) some political hack, whose monetary AND fiscal policies have lead to a MULTI-DECADE decline in purchasing power.
–
I started watching this last night, expecting I’d switch off after 10mins. I ended up sticking with it until the end.
I’m not familiar with the host or ‘Scott Ritter’.
Regardless… there is much ‘useful’ history chatter within this, not least about the Pershing Missiles, which brought Europe rather close to being glassed over by the Soviet Union in the 1980s.
>> https://en.wikipedia.org/wiki/Pershing_II
Seriously, I get that some of you have ZERO interest in 80minutes of two people you probably neither know, yet the discussion is really good.
More than anything, I remain concerned that the current path… leads to a global war. Whether its ends up with nukes being thrown around, I don’t know, but I do know the current path is a very dark one.
–
I’ve not watched this myself yet. I will say, the title ‘… in my lifetime’, reminds me of Gartman, appearing on CNBC in January 2016…
Just hearing someone note ‘not in my lifetime’, and I’m inclined to see completely the opposite on something. As I type, WTIC is printing the $77s, and Gartman (as far as I know) is still alive.
–
Brent Cross… flyover.
The bridge was just fine.
All the packages inside the truck… not so much. https://t.co/soCVLZCcSs— Philip Calrissian (@Trading_Sunset) January 11, 2023
Its a small world… as I saw this appear on Twitter this morning, relating to the ‘Royal Mail’ strike chatter. I recognised the Holiday Inn in the background… and the concrete jungle of bridges. My apartment is around 200 meters to the left.
Goodnight from London