It was a typically red Thursday in equity land, the SPX printing 6084, if recovering to settle -0.4% to 6117.
sp’weekly1b
Summary
SPX: as things are, we’re net higher for the week by +2.9pts (0.05%). Weekly momentum continues to tick upward, due to turn positive as of March 3rd. The low 6200s are certainly viable next week, and more so… in early March.
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Looking ahead
Friday will see PMI Serv’, PMI manu’, consumer sent’, existing home sales
Earnings: $ABR $ATMU $ASIX $SHO $UNIT $TXNM $VIPS $USM $BRC $OIS
Event: It will be OPEX, so expect considerable chop on higher volume. A pin around psy’ 6100 would be most natural.
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Final note
Lin with Ms. Booth
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Gold chatter
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Geo-pol chatter from the good professor.
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Two great Americans
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Indeed, it was never about ‘The science’. It was about control.
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‘I still recommend that you stockpile two years’ worth of food.’ – Armstrong
Even I don’t have two years. (I’ve around 4-5months right now).
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Back on the nuclear train
I’ve been patiently waiting to pick up SMR from the recent $28s.
Today… back onboard from precisely psy’ $20.00.
Today’s close of $20.78 is a good start.
Upper hourly bollinger offers as high as around $23.00 early Friday.
I’d consider an exit in the $22s.
I’ll also consider dropping OXY from the $53s, or certainly in the $54s.
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Every appearance by Mike is a bonus.
Goodnight from London