Looking ahead

It was a day of considerable weak leaning chop in equity land, the SPX printing 3969, if recovering to settle +0.1% to 3992. Meanwhile, WTIC settled -92cents (1.2%) to $76.66.

sp’weekly1b

WTIC daily

Summary

SPX: rather tedious midweek chop… especially relative to Tuesday’s downside. Weekly momentum continues to weaken. Bears can still tout multi-week structure is a bear flag… although I lean s/t bullish, if only 2-3 days.

I’m open to as high as 4130/40, and whilst that does look a stretch, so did the 4070s last Thursday morning!

As someone who wants to re-short, I’m hoping for as high as possible… to make for a more comfortable entry! Anything >4078 would arguably be great.
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WTIC: oil cooled for a second day, not helped by the shaky main market. The latter will likely be a problem into/across the spring.

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Looking ahead

Thursday will see the usual weekly jobs

Earnings: JD, BJ, PSFE, ULTA, DOCU, GPS, ORCL, WPM, REI, MTN
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Final note

Whilst I like Gold, Silver, and the related miners, I still see them as very vulnerable in the near term.

Sure… I could accept Silver might be $200/250 within a handful of years, but right now… if the main market gets whacked, silver (and the related miners) will not be able to escape the carnage.

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College/University is indeed over-rated.
*My degree was in Psychology (marginally less ‘wishy-washy’ than sociology!).

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I must have seen Ice Cold in Alex close to a hundred times. With Sylvia dying in January, there is no one left alive from that movie. They’re all gone, even the bartender (I checked via IMDB). It was indeed a sobering reminder of my limited time on planet Krazy.

Goodnight from London