It was a net positive Thursday, the SPX settling +0.5% to 5948.
sp’weekly1b
Summary
SPX: as things are, we’re net higher for the week by +78pts (1.3%). Weekly momentum is ticking back upward, and remains marginally positive. The short term cyclical setup favours the bears for Friday, and I’d look for some degree of net declines… if only moderate.
In theory, Friday (especially the late afternoon) should see a pretty strong case of ‘rats selling into the weekend’. Seriously, who the hell would buy into the weekend, considering Ukraine/Russia?
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Looking ahead
Friday will see PMI serv’, PMI manu’, consumer sent’
Earnings: none.
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Final note
*I’ve not watched
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The Maloney.
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Two great Americans
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Interesting speculative chatter on the ICBM.
Were they 36x dummy warheads, or deep level ‘bunker busters’ ?
Either way… its another escalation.
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Geo-pol chatter.
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… even more geo-pol chatter.
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On the Russian ICBM – or perhaps an intermediate ‘BM, I’ll merely note… it was clearly a ‘real world’ demonstration that Russia will push back.
I still think Russia should conduct an airburst nuclear test to the east of the Ural Mountains, as a warning to the world. It’d certainly be more ethical than the vapourisation of Kiev.
I’d hope most of you recognise that the younger generations – the Millennials and Gen’Z seem to believe a large scale nuclear exchange is a tolerable and survivable event.
The psychological trauma of 2020-22 has lead to the bulk being sickeningly complacent about what would be the end of western civilisation. Those in the tropics and the southern hemisphere might survive… even with some degree of ‘nuclear winter’.
I should be looking forward to the weekend, but I fear there will simply be more bad news.
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I’m not sure who is more scary, as I should probably be watching a ‘lighter’ show.
Goodnight from London