Equities began the week on a mostly positive note, the SPX printing 5908, and settling +0.4% to 5893.
sp’weekly1b
Summary
SPX: bulls can argue ongoing price action is just consolidation from last Monday’s historic high. Bears can note weekly momentum is weakening, and prone to turning negative next week.
The ascending channel is valid unless <5700, and I’d expect that to hold into the Thanksgiving break of Nov’28th-Dec’1st.
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Looking ahead
Tuesday will see Housing starts, building permits
Earnings: $WMT $LOW $WKHS $XPEV $MDT $VIPS $KEYS $LZB $POWL $AZEK $ZTO $KORE $DLB $DNMR $SBLK $QFIN
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Final note
I would merely note, anyone should have at least a month of food reserves… things that you would normally eat (not MREs!), and preferably good quality.
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Geo-pol chatter
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The very latest. Yes, its inherently biased… but the core details are all valid.
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Ukraine/Russia
So… Biden gave permission for Ukraine to us western weapons – namely long range missiles, against anywhere within Russia.
What if Russia gave such permission for Cuba, with Cuban missiles landing in Florida? The US populace would see that as an act of war.
So… if the Ukraine start landing missiles in Moscow, then why wouldn’t Russia consider it an act of war by Europe/NATO/USA ?
Whilst Trump has been elected, it appears the Neocons of blue team are trying to provoke Russia into WWIII. I will hope it doesn’t come to that, as I’ve a front row seat to being part of 9M vapourised within 0.9 seconds.
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… that was sad, as I wonder if they’ll get another RV, but I guess not.
Goodnight from London