Equities opened broadly lower, but there was a significant bounce, the SPX settling +0.4% to 5916.
sp’weekly1b
Summary
SPX: a moderate Tuesday gain, which was impressive relative to the pre-market decline of -60pts. Weekly momentum is weakening, and might turn negative in Thanksgiving week.
The following is a prime scenario…
Its a pretty straight forward H/S structure.
To play out… we need to fall to around 5700, bounce to around 5850, and then rollover again, with a subsequent break under the (blue) neckline around 5700.
If yes… then natural target would be 5400, which the weekly chart offers on a sustained break <5700.
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Looking ahead
Wednesday will see EIA Pet’
Earnings: $TGT $TJX $ZIM $NIO $WIX $DY $WSM $BERY $GLBE $NVDA $SNOW $PANW $JACK $CPA $SQM $MMS $CCIF $ESEA $BBAR
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Final note
*I’ve not watched, but saw it recommended.
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The following was posted before Ukraine launched ATACMs
Zelensky is a Puppet of the Neocons – Last Ukrainian Standing Please Turn Out the Lights
Armstrong is pretty clear… Ukraine will soon no longer exist as a country.
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Geo-pol chatter with Sachs, on Ukraine and Israel.
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As ever… an excellent summary of what is an extraordinarily dangerous situation.
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So… after permission from Biden, it only took Ukraine a day to launch ATACMs into Russia.
For those to work, they need US military and comms.
The attack was operated by the US.
The US has committed an act of war against Russia.
How will Russia respond?
There are hundreds of minor things that can be done, not least turning off the Natgas to Europe, cutting undersea cables, and expelling western diplomats.
There is chatter of ‘don’t hit the nuclear power plant in Kursk’, although the Ukrainians have already attacked that a number of times this year.
President Trump is still a considerable way off, and its clear the Biden regime will continue to provoke the Russian bear before a more pro-peace guy takes command.
If we can get to January 20th, without a few hundred thousand… never mind millions, vapourised, I’ll be pleasantly surprised.
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My escape from planet Krazy remains…
… for what was perhaps the most dramatic episode yet.
Goodnight from London