The weekend

The equity week ended with considerable chop, the SPX printing a new hist’ high of 4906, and settling -3pts (0.1%) to 4890, which made for a net weekly gain of +51pts (1.1%). Meanwhile, WTIC settled +65cents (0.8%) to $78.01, which made for a net weekly gain of +$4.76 (6.5%).

sp’weekly1d

WTIC weekly

Summary

SPX: a third weekly gain, with Friday having broken yet another new historic high of 4906. Even to me, its somewhat earlier than seemed likely. Weekly momentum ticked upward, and is on the high side. Bears have nothing to tout unless <10MA (4721).

WTIC: oil climbed for the 5th week of 7. Friday’s settlement was above the 200dma ($77.59), and the monthly 10MA ($77.84). If next Wednesday (end month) settles >$78.00, it will give confidence of $85.
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Dear Subscriber

Some perspective…

With just three trading days left of January, the SPX is net higher by +121pts (2.5%), having printed a new hist’ high of 4906. We’re clearly set for another monthly close above the key 10MA (4460), as the m/t trend remains bullish. Monthly momentum is increasingly positive.

Equity bears – not least yours truly, should be cautious until monthly momentum offers at least a provisional rollover, with a monthly settlement back under the 10MA. Right now, that doesn’t look likely until at least end March, if not April/May.

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Miscell’ things

This caught my attention in early morning…

Starmer and Sunak are two equally abysmal choices, with a UK election due this May. I will probably just shred my voting papers, and maybe post a video of it.

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A mini tirade from Dore on ‘them’. I fully agree, as most of the news is being manufactured to create pointless fighting, whilst the grander issues are being ignored.

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Independent chatter from Ms. Lilly of Austria. The EU has banned ALL cash payments >€10,000, the excuse being to stop criminal activity. I’d refer anyone to the actions of the ECB, a branch of Print Central, that has arguably done more harm to the life of European citizens than even Nazi-Germany.

It should be clear, the €10000 level will be dropped to €1000, and then €100, before CBDCs are forced onto the dumb-sheep populace.

At that point, any resistance to any policy that emanates from the EU bureaucracy, the UN-WEF, or the WHO, will be crushed with the press of a key… as run by an AI super computer.

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The Goths – Ancient Rome’s Migrant Crisis

History repeats, if with different faces and names.
Those who know their history should prepare accordingly.

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*I’ve not watched this yet. I used to follow Mannarino a long time ago. These days, he is on the Celente payroll I believe.
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Silver is crazy cheap, but these days, along with copper, so much of it is recycled. I’ll take silver seriously if it can break/hold >$30.00
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The weekend

Two days to rest and recover, as I’m seriously inclined for sixty hours of sleep.

I do have sideline entertainment via Gold Rush and True Detective. I noticed a new series has appeared… ‘Masters of the Air’ (Apple TV), its a WWII based, nine episode mini series, from the producers of Band of Brothers and The Pacific. Might be worth checking.
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I will try to make a little further progress with web streaming. Am having issues with X, have yet to try via Rumble.

As ever, feel free to message me via Disqus or email.

Sincerely, have a restful weekend, and goodnight from London

yours… Philip
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The weekend post will appear Sat’12pm EST @ https://tradingsunset.blogspot.com, and will detail six of the US equity indexes.

re: X. I’ll endeavour to cover some things across the weekend. As ever, if there is something you’d like me to highlight, let me know!